Trump Media Abandons Cryptocurrency Plans Amid Market Shifts
Trump Media and Technology Group (TMTG) has decided to reassess its cryptocurrency strategy, withdrawing from key initiatives with Crypto.com. The company's focus is shifting towards developing its media business and preparing for a merger with TAE by the end of 2026.
In 2025, Trump Media invested $105 million in acquiring CRO tokens but has now lost more than $77 million on this asset due to market changes and oversaturation. The company cited current market conditions and shifting corporate goals as reasons for terminating agreements with Crypto.com and Yorkville Acquisition Corp.
TMTG's acting CEO Kevin McGurn stated that the decision is related to market competition, not regulatory risks associated with U.S. President Donald Trump. The proposed project involved forming a reserve in CRO to generate income from staking, but this was put on hold due to declining interest in staking from Crypto.com.