Trump Media and Crypto.com Scrap Digital Asset Deals Amid Market Slump
Trump Media and Crypto.com have scrapped two deals related to digital assets. The agreements included plans for Trump Media's digital treasury company (DAT) to buy billions of CRO tokens from Crypto.com, as well as the implementation of prediction market contracts on Truth Social.
The agreements were made about a year ago, but both parties decided to walk away on August 7, 2026. The decision comes after the price of Bitcoin dropped by nearly half from its high last year to around $65,000.
Crypto.com's CEO Kris Marszalek stated that the company reviewed the proposals and concluded that proceeding under current market conditions doesn't make sense.
The end of these agreements reverses the expansion into crypto-related products that Trump Media and Crypto.com had begun. The canceled treasury plan was less attractive due to the slump in digital-asset prices, which has cooled enthusiasm for companies that load up on tokens.