Truth Social’s Crypto Dream Is Over as Trump Media Eyes Energy Instead

TLDR

• Trump Media and Crypto.com have mutually terminated plans for a publicly traded CRO token accumulation company
• The deal was scrapped due to market conditions and shifting business priorities
• Trump Media is also walking away from Crypto.com-powered prediction markets on Truth Social
• The company is refocusing on media, data licensing, and a merger with fusion energy firm TAE
• CRO token fell as much as 5% following the announcement

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Trump Media and Technology Group has pulled back from two major deals with crypto exchange Crypto.com, scrapping plans for a CRO token treasury company and prediction markets on its Truth Social platform.

🚨JUST IN: Trump Media unwinds its CRO treasury deal with Crypto dot com.

The venture was set to become the “first and largest publicly traded CRO treasury company.”

Interim CEO Kevin McGurn says the decision was driven by market saturation, not regulatory concerns, despite… pic.twitter.com/zHCnZDfAKs

— Coin Bureau (@coinbureau) August 7, 2026

The two companies, along with special purpose acquisition company Yorkville Acquisition, mutually agreed to terminate the Trump Media Group CRO Strategy venture. They cited “prevailing market conditions and shifting business and stakeholder priorities” as the reason.

The original plan, announced in September 2025, would have created a publicly traded company focused on buying and staking Crypto.com’s native CRO token. Trump Media had already purchased $105 million worth of CRO as part of that earlier partnership.

CRO dropped as much as 5% after the termination news broke on Friday.

The companies are also walking away from a deal that would have seen Crypto.com service certain exchange-traded funds through Yorkville America.

Digital Asset Treasury Market Has Cooled

Interim CEO Kevin McGurn told Axios that the digital asset treasury market has become too crowded. That saturation pushed the company to shift its focus back to core operations.

Trump Media is now concentrating on media, data licensing, and completing its merger with fusion energy company TAE. McGurn said the company hopes to close that deal before the end of 2026.

The retreat from Crypto.com also lines up with stalled crypto legislation in Washington. The CLARITY Act has faced delays due to ethics debates around President Trump and his family’s crypto investments.

Trump Media Still Holds Bitcoin

Despite the pullback from CRO, Trump Media remains active in crypto through its bitcoin holdings. The company held 9,542 bitcoin on its balance sheet at the end of the second quarter.

However, Trump Media moved 2,628 bitcoin earlier this week, worth around $165 million, to addresses linked to Crypto.com.

McGurn said the decision to end the deals was driven more by competitive pressures in the market than by regulatory concerns.

Plans to integrate prediction markets directly into Truth Social, under the name Truth Predict, have also reportedly been shelved.

Trump Media first announced the CRO treasury deal at what many considered the peak of the digital asset treasury boom last year.

The company’s stock trades under the ticker DJT. Its broader strategy now appears to be moving away from crypto partnerships and toward energy and media.

President Trump continues to face calls from lawmakers to address potential conflicts of interest between his family’s crypto holdings and the administration’s role in shaping digital asset policy.