Trump Media Abandons Crypto Treasury Plans Amid Market Shifts
Trump Media and Technology Group (TMTG) has abandoned plans for a multibillion-dollar cryptocurrency treasury agreement with Crypto.com.
The decision was made to prioritize core operations around Truth Social, its main platform, and an energy partnership.
TMTG's interim CEO Kevin McGurn said the firm wanted to 'get focused' in the increasingly crowded digital asset treasury market.
The companies also dropped plans to integrate prediction markets directly into Truth Social, but will instead market Crypto.com's prediction-market products to users.
TMTG is now focusing on monetizing Truth Social's audience and data while finalizing a $6 billion all-stock merger with TAE Technologies, which aims to create one of the first publicly traded fusion companies.