Crypto
Home›Crypto›Market Structure›Trump Media scraps Crypto.com CRO treasury and predict…
Trump Media scraps Crypto.com CRO treasury and prediction market plans
The company terminated a proposed Crypto.com-backed CRO strategy deal, citing prevailing market conditions and shifting priorities, while keeping existing Truth Social Funds ETFs unchanged.
Trump Media & Technology Group has ended plans for a Crypto.com-backed CRO treasury company and dropped parts of a broader digital asset effort, according to Decrypt, citing a mutual termination agreement among the companies involved. Decrypt reports that Trump Media, Crypto.com, and special purpose acquisition company Yorkville Acquisition Corp. agreed to terminate the proposed Trump Media Group CRO Strategy services deal and related digital asset products. The companies said the decision reflected prevailing market conditions and shifting business and stakeholder priorities.
The reported venture would have licensed the Trump Media name for a company built around Crypto.com's Cronos blockchain and the CRO token. Decrypt notes that CRO currently trades around $0.05 and the token had a market capitalization near $2.4 billion at the time of the report.
Decrypt also said Trump Media is abandoning plans to integrate prediction markets directly into Truth Social. Instead, the parties will pursue a marketing deal promoting Crypto.com's prediction market products to Truth Social users, with Trump Media focusing on distribution and data partnership rather than operating the prediction markets itself.