Trump Media and Technology Group has terminated a planned digital-asset treasury venture that would have bought billions of dollars worth of Crypto.com's CRO token, and separately dropped a plan to bring prediction-market contracts to Truth Social. CoinDesk reported that the two companies cited “prevailing market conditions and shifting business and stakeholder priorities” as the reason for unwinding both agreements.
Interim CEO Kevin McGurn said the pivot away from a CRO treasury vehicle was driven by the digital-asset treasury market becoming saturated, pushing the company to refocus on media, data licensing, and completing its proposed merger with fusion-energy firm TAE. CRO fell as much as 5% on the news, a reminder of how directly digital-asset treasury announcements — and their reversals — can move the underlying token.
A $105 million bet unwound
The relationship wasn't purely aspirational: Trump Media had already bought $105 million worth of CRO in September 2025 as part of the broader partnership with Crypto.com, meaning the treasury venture's collapse comes after real capital had already changed hands rather than at the term-sheet stage. Instead of integrating prediction markets directly into Truth Social as originally planned, the companies now intend to pursue a lighter marketing arrangement in which Crypto.com's prediction-market products are simply promoted to Truth Social's user base.
Related: American Bitcoin Director Buys $2M in ABTC Stock After Earnings
A cooling digital-asset treasury trend
The reversal lands amid a broader pullback in corporate digital-asset treasury strategies, a model that surged through 2025 as companies raced to hold specific tokens on their balance sheets the way MicroStrategy popularized with bitcoin. McGurn's explicit acknowledgment that the space had grown “saturated” suggests Trump Media is one of a wider cohort of firms reassessing whether a dedicated treasury vehicle still offers the differentiation or investor appeal it did a year ago, rather than a bitcoin-specific retreat from crypto exposure altogether.
