Trump Media Scraps Crypto.com Deal Amid Market Squeeze

Trump Media & Technology Group (TMTG), parent company of Truth Social, has scrapped plans to launch a CRO treasury venture with Crypto.com. This move comes after a year-long effort to integrate digital assets into their operations.

The decision was made due to 'prevailing market conditions' and 'shifting business and stakeholder priorities', according to TMTG's interim CEO Kevin McGurn. The company cited the increasingly saturated digital asset treasury market as a major factor in their decision.

As a result, the CRO token has plummeted, trading at approximately $0.05 with a market capitalization of roughly $2.4 billion. This marks a significant pullback from TMTG's ambitious push into digital assets.