Trump Media, Crypto.com and Yorkville Acquisition Corp have mutually scrapped a plan to build a $6.4 billion CRO token treasury, along with a related deal to bring Crypto.com-powered prediction markets to Truth Social. Crypto.com's CRO token fell as much as 5% on the news, as Trump Media shifts its focus to media, data licensing and a pending merger with fusion-energy firm TAE Technologies.
Trump Media, Crypto.com and special purpose acquisition company Yorkville Acquisition have mutually terminated plans for Trump Media Group CRO Strategy, the proposed vehicle that would have accumulated and staked Crypto.com's CRO token. According to the companies' joint statement, "prevailing market conditions, and shifting business and stakeholder priorities" drove the decision.
The scrapped venture would have created a publicly traded company built to accumulate CRO and earn additional returns by staking those holdings. Trump Media itself bought $105 million of CRO in September 2025 as part of a broader partnership that also planned to weave token rewards into its products.
CRO drops on the announcement
Cronos' native token fell as much as 5% after the news broke. Crypto.com is also walking away from a separate arrangement to service planned exchange-traded funds for Yorkville America under the Truth.Fi brand.
However, Yorkville's existing and future ETF plans remain unchanged. Trump Media is separately scaling back plans to build Crypto.com-powered prediction markets directly into Truth Social, Axios reported earlier.
A pivot toward media and a fusion-energy merger
Interim CEO Kevin McGurn told Axios that the pullback reflects a digital-asset treasury market that has become saturated, pushing the company to focus on media, data licensing and closing its proposed merger with fusion-energy firm TAE Technologies, which McGurn said he hopes to complete before the end of 2026. Cointelegraph reported that McGurn attributed the rollback more to competitive dynamics than to regulatory concerns. The retreat also comes as the CLARITY Act has stalled in Washington amid debate over ethics and potential conflicts of interest tied to Trump and his family's crypto ventures.
Bitcoin treasury stays intact
Trump Media held 9,542 BTC at the end of the second quarter, per company filings. Wallets tied to the company also moved 2,628 BTC, worth about $165 million, to addresses associated with Crypto.com this week. A company spokesperson told The Block the bitcoin was transferred but not sold.
Despite the retreat from Crypto.com, Trump Media remains the 14th-largest public bitcoin treasury, holding over $600 million worth of BTC, according to BitcoinTreasuries data.
Sources: CoinDesk, The Block, Cointelegraph
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