Trump Media Axes Crypto Deal, Merges with Fusion Developer

Trump Media & Technology Group Corp. has abruptly ended its partnership with Crypto.com, citing unfavorable market conditions as the reason for the termination.

The decision affects plans to establish a digital treasury firm that would have purchased billions of dollars' worth of CRO, Crypto.com's native token.

Crypto.com CEO Kris Marszalek stated that under current market conditions, moving forward with the planned venture 'doesn't make sense.'

Despite this setback, Trump Media has announced plans to merge with TAE Technologies Inc., a private fusion developer, in an all-stock deal worth over $6 billion. Shareholders of both companies will own approximately 50% of the combined business upon completion.