Crypto.com and Trump Media Scrap Plans for CRO Treasury Deal

Trump Media and Crypto.com have ended their plans to create a digital asset treasury company focused on CRO holdings. The companies agreed to terminate the proposed combination after reviewing market conditions and changes in business and stakeholder priorities.

Crypto.com CEO Kris Marszalek cited market conditions and changing priorities behind the termination of the proposed structure. 'After analyzing these proposed ETFs and DAT from every angle, we've reached the same conclusion: moving forward under current market conditions doesn't make sense,' Marszalek said.

The companies did not announce a replacement structure for the proposed CRO treasury business. The termination removes that planned treasury vehicle, while Crypto.com said it would continue exploring other ways to use the CRO that had been committed to the proposed structure.