TMTG Cancels Crypto Treasury Plans Amid Shifting Priorities
Trump Media and Technology Group (TMTG) has cancelled its multibillion-dollar cryptocurrency treasury agreement with Crypto.com.
The decision, made due to 'prevailing market conditions and shifting business and stakeholder priorities', aims to streamline operations around Truth Social's core platform and an energy partnership.
TMTG interim CEO Kevin McGurn stated that the firm wanted to focus on its main platform amid a crowded digital asset treasury market.
The companies have also abandoned plans to integrate prediction markets directly into Truth Social, but will instead market Crypto.com's products to users.