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Trump Media cancels CRO token treasury plan and drops ETF services deal
The pullback follows a saturated digital asset treasury market and comes as Trump Media looks to close its merger with fusion-energy firm TAE before the end of 2026.
Trump Media, the parent of Truth Social, is backing away from crypto-related plans including a proposed publicly traded company designed to accumulate and stake Crypto.com’s CRO token, citing market conditions and shifting priorities, according to CoinDesk.
The company also scrapped a separate agreement under which Crypto.com would have serviced planned Yorkville America ETFs.
CoinDesk reports the retreat follows an earlier push in 2025 when Trump Media bought $105 million in CRO and pursued digital asset products, including plans to integrate token rewards into its offerings.
Interim CEO Kevin McGurn said the digital asset treasury market has become saturated, as Trump Media redirects attention to media, data licensing, and completing its proposed merger with fusion-energy firm TAE, which it hopes to close before the end of 2026. The company also disclosed holdings of 9,542 BTC at the end of the second quarter and moved 2,628 BTC worth about $165 million to addresses associated with Crypto.com earlier in the week, per CoinDesk.
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