Trump's Digital Assets Plans Face Ethics Scrutiny Amid Crypto Pullback
President Donald Trump's plans for digital assets are facing intense scrutiny as he negotiates with lawmakers over ethics provisions tied to the Digital Asset Market Clarity Act. In a recent development, Trump Media has scaled back two initiatives with Crypto.com, including a planned $6.42 billion CRO treasury venture and a Truth Social prediction-market integration.
The company's interim CEO, Kevin McGurn, attributed the decision to shift attention towards media operations and the pending TAE Technologies merger, which is valued at over $6 billion. Trump Media has also revised its plans for integrating prediction markets into its social platform, instead opting to promote Crypto.com's products.
The developments expose two pressure points around the president's digital-asset exposure: Senate talks stalled over ethics rules and Trump Media's corporate decisions. The proposed language in the Digital Asset Market Clarity Act could require Trump to divest crypto-related businesses or place them in a blind trust, which he has said he would accept.