Trump Media Abandons Crypto Plans Amid Bitcoin Price Slide
Trump Media & Technology Group Corp. has ended its plans to form a digital treasury company to buy billions of dollars' worth of Crypto.com's CRO tokens.
The two companies had agreed on this deal a year ago, but it appears that the crypto market's downturn was too great for them to move forward with it.
Crypto.com's token, known as CRO, has been significantly impacted by the decline in Bitcoin prices, which have dropped nearly 50% from their peak last year.