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Crypto

Trump Media's Crypto Bet Falters as Stock Takes a Hit

Guavy AI Editorial Team
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BTC CRO
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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.

The decision comes after a failed plan to create a publicly traded digital-asset treasury company (DAT) that would have bought and held Cronos (CRO), Crypto.com's native token.

The deal was cancelled due to the declining value of CRO, which has dropped from around $0.20 when the deal was announced in August last year to its current price of $0.047.

As a result, Trump Media is now left with major paper losses on its digital assets, including Bitcoin and other cryptocurrencies it owns.

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