Trump Media Abandons Ambitious Crypto Expansion Plans

TMTG, the parent company of Truth Social, has scaled back its ambitious cryptocurrency expansion plans under acting CEO Kevin McGurn.

The company is now focusing on its core media and data businesses after deciding to cancel the Trump Media Group CRO Strategy with Crypto.com and Yorkville Acquisition Corp.

This strategy would have created a publicly traded company devoted to purchasing and staking Crypto.com's CRO token, but it was canceled due to 'prevailing market conditions and shifting business and stakeholder priorities.'

'We wanted to get focused,' McGurn said in a statement.