Trump Media Abandons Crypto Deals Amid Market Downturn

Trump Media and Technology Group has terminated its deal with Crypto.com to buy billions of dollars' worth of CRO, the latter's digital token. The move marks a significant step back for Trump Media from the crypto space following a sharp decline in Bitcoin prices.

The two companies had agreed to form a digital treasury company last year, but have now cancelled this plan. They also dropped their proposal to make prediction market contracts available on Truth Social, owned by Trump Media.

Crypto.com's CEO Kris Marszalek stated that after analysing the proposed ETFs and Digital Assets from every angle, they reached the same conclusion: moving forward under current market conditions doesn't make sense.