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Trump Media Stock Sinks 9.4% After Cancelled Crypto Partnership

Guavy AI Editorial Team
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Trump Media & Technology Group's stock plummeted by 9.4% on Monday as the company announced it would be unwinding its partnership with Crypto.com due to the collapse of Cronos tokens.

The deal, which was initially valued at $530 million, was scrapped after Cronos tokens dropped from $0.20 to just $0.047 in value.

Trump Media still holds significant crypto assets, including Bitcoin, but has taken substantial paper losses as digital asset values have plummeted.

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