Trump Media Ghosts Crypto.com, CRO Treasury Deal Dies Mid-Swap 🪦

Trump Media & Technology Group, Crypto.com and Yorkville Acquisition Corp. have mutually terminated the proposed Trump Media Group CRO Strategy, a previously announced services agreement and related digital asset products, the companies said. The parties cited "prevailing market conditions" and "shifting business and stakeholder priorities" for the decision, which also ends certain digital asset products tied to a previously announced service agreement. The existing America First ETFs, managed by Yorkville America and operating under the Truth Social Funds brand, will continue to operate.

The venture, announced in September 2025, would have licensed the Trump Media name for a company built around Crypto.com's Cronos blockchain and the Cronos token, which trades as CRO. When first announced, the partners said it would become the first and largest publicly traded CRO treasury company by accumulating the token and generating additional returns from those holdings, with the deal valued at $6.4 billion. The CRO token fell sharply following the news and was trading around $0.05, near a $2.4 billion market capitalization.

TMTG Interim CEO Kevin McGurn told Axios the company is narrowing its focus after the digital asset treasury market became increasingly saturated over the past year, and that staking has become less important to Crypto.com, making it the right time for the companies to separate. McGurn said the decision was driven by competitive dynamics rather than regulatory concerns about a Trump-linked company operating in an industry overseen by the Trump administration. The Truth Social parent is also pursuing a planned merger with fusion energy company TAE.

Trump Media and Crypto.com are also scaling back plans to integrate prediction markets directly into Truth Social. Instead, the companies will 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 now sees greater value in acting as a distribution and data partner.

The companies' relationship had expanded over the past year. In October 2025, Trump Media announced plans to launch Truth Predict, a Crypto.com-powered prediction market integrated with Truth Social. In December, the companies unveiled plans for the publicly traded CRO treasury company with Yorkville Acquisition Corp., which was expected to hold billions of CRO tokens. In February, Crypto.com disclosed donating $35 million over the previous year to the pro-Trump super PAC MAGA Inc. 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 continued to scrutinize Trump's crypto ventures, with Sen. Elizabeth Warren (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) this week urging the SEC to investigate President Trump's meme coin and determine whether it facilitated fraud or unjust enrichment.