Crypto.com, Trump Media Scrap CRO Treasury Plans Amid Market Volatility

Crypto.com and Trump Media have mutually terminated their proposed business combination to create a digital asset treasury company focused on CRO, the token of the Crypto.com ecosystem.

The decision was made due to prevailing market conditions and shifting business priorities. The companies announced the termination Friday, citing the need to reassess their plans under current market conditions.

Crypto.com cofounder and CEO Kris Marszalek stated that after reviewing the proposed ETFs and digital asset treasury structure from multiple angles, they concluded it didn't make sense to move forward.

Marszalek added 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.