Crypto.com, Trump Media Abandon CRO Treasury Deal Amid Market Volatility

Crypto.com and Trump Media have mutually terminated their planned CRO treasury deal, citing prevailing market conditions and shifting business priorities.

The proposed digital asset treasury company, Trump Media Group CRO Strategy, was focused on the CRO token of the Crypto.com ecosystem.

CRO dropped more than 4% following the announcement, with Crypto.com CEO Kris Marszalek stating that the companies reached the decision after reviewing the proposed ETFs and digital asset treasury structure from multiple angles.

Marszalek emphasized that Crypto.com will continue pursuing other ETF opportunities and plans to find another way to allocate the CRO previously committed to the digital asset treasury, with the goal of driving revenue, increasing demand, and growing the ecosystem.