CRO-nic Backtrack: Trump Media Bails on Crypto.com Treasury and Prediction Market Plans 🪙

Trump Media & Technology Group has terminated plans to launch a Crypto.com-backed CRO treasury company and scrapped a broader set of digital asset products it had been developing with the exchange and special purpose acquisition company Yorkville Acquisition Corp. The three parties said in a joint statement that they mutually agreed to end the proposed Trump Media Group CRO Strategy, a previously announced services agreement, and related digital asset products, citing "prevailing market conditions" and "shifting business and stakeholder priorities."

The venture, announced last year, would have licensed the Trump Media name to a company built around Crypto.com's Cronos blockchain and its CRO token, with the partners saying it would become the "first and largest publicly traded CRO treasury company" by accumulating the token and generating additional returns from those holdings. Following the news, CRO traded at around $0.05 with a market capitalization of approximately $2.4 billion after a sharp drop.

Interim CEO Kevin McGurn told Axios the company is narrowing its focus as the market for digital asset treasury companies has become increasingly crowded over the past year, adding that staking has become less important to Crypto.com and that it is "the right time for the companies to go their separate ways." McGurn said the decision was driven by competitive conditions rather than regulatory concerns about a Trump-linked company operating in an industry overseen by the Trump administration. The existing America First ETFs, managed by Yorkville America under the Truth Social Funds brand, will continue to operate.

Trump Media is also dropping plans to integrate prediction markets directly into Truth Social. Under a revised agreement, the companies will instead pursue a marketing deal that promotes Crypto.com's prediction market products to Truth Social users. McGurn said the prediction market business has become crowded, making it a less compelling area for direct investment, and that Trump Media sees greater value in acting as a distribution and data partner. In October 2025, Trump Media announced plans to launch Truth Predict, a Crypto.com-powered prediction market integrated with Truth Social, and in December the parties unveiled the CRO treasury plan with Yorkville Acquisition Corp., which had been expected to hold billions of CRO tokens.

The moves come against a backdrop of expanding ties between Trump Media and Crypto.com. In February, Crypto.com disclosed donating $35 million over the previous year to the pro-Trump super PAC MAGA Inc., and the same month the Office of the Comptroller of the Currency conditionally approved the exchange's application for a national trust bank charter. Democrats have stepped up scrutiny of Trump's crypto activities ahead of November's midterm elections, with Sen. Elizabeth Warren (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) earlier this week urging the SEC to investigate President Donald Trump's meme coin to determine whether it facilitated fraud or unjust enrichment.