President Donald Trump's Trump Media & Technology Group has terminated plans to launch a Crypto.com-backed CRO treasury company and abandoned a broader digital asset deal with the exchange.

According to a report by Axios, Trump Media, Crypto.com, and special purpose acquisition company Yorkville Acquisition Corp. mutually agreed to end the proposed Trump Media Group CRO Strategy, along with a previously announced services agreement and related digital asset products.

The companies attributed the decision to "prevailing market conditions" and "shifting business and stakeholder priorities."

The scrapped venture would have licensed the Trump Media name for a company built on Crypto.com's Cronos blockchain and its native Cronos token, which trades as CRO. When the partnership was announced last year, the parties said the entity would become the first and largest publicly traded CRO treasury company, accumulating the token and generating additional returns from those holdings. The CRO token currently trades at approximately $0.05, with a market capitalization of around $2.4 billion, and fell sharply following the news.

Crypto treasury companies — publicly traded entities that hold digital assets as their primary business — proliferated after MicroStrategy's Bitcoin accumulation strategy demonstrated how such vehicles could give investors token exposure through traditional brokerage accounts. Over the past year, similar structures have emerged for tokens including Ethereum, Solana, and XRP, intensifying competition for newer entrants.

Interim CEO Kevin McGurn told Axios that Trump Media is narrowing its strategic focus, noting that the digital asset treasury company market has grown increasingly crowded over the past year. He added that staking has become less central to Crypto.com's strategy, making it an appropriate time for the two companies to part ways.

The Truth Social parent is also stepping back from plans to integrate prediction markets directly into its platform. Instead, the companies will pursue a marketing arrangement under which Crypto.com's prediction market products are promoted to Truth Social users. McGurn said the prediction market space has become congested, reducing its appeal as an investment target. Rather than operating prediction markets itself, Trump Media now sees more value in serving as a distribution and data partner.

The prediction market sector saw explosive growth during the 2024 U.S. election cycle, with platforms like Polymarket processing billions in trading volume and CFTC-regulated Kalshi offering federal election contracts. Multiple operators have since entered or expanded in the space, further crowding the field.

The relationship between Trump Media and Crypto.com had steadily expanded over the preceding year. In October 2025, Trump Media announced Truth Predict, a Crypto.com-powered prediction market designed for integration with Truth Social. In December, the companies unveiled plans for a publicly traded CRO treasury company with Yorkville Acquisition Corp., which was expected to hold billions of CRO tokens. In February, Crypto.com disclosed that it had donated $35 million over the prior year to the pro-Trump super PAC MAGA Inc. That same month, the Office of the Comptroller of the Currency conditionally approved the exchange's application for a national trust bank charter.

Existing Truth Social Funds ETFs will continue unchanged.

Democrats have repeatedly criticized Trump's expanding cryptocurrency ventures, which also include World Liberty Financial, a decentralized finance project tied to the Trump family. Earlier this week, Sen. Elizabeth Warren (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) urged the SEC to investigate President Trump's meme coin, calling on the agency to determine whether it facilitated fraud or unjust enrichment. The request marks the latest sign of intensifying Democratic scrutiny of Trump's business dealings — particularly in crypto — ahead of November's midterm elections. Ethics watchdogs have separately raised concerns about the potential for foreign actors to purchase Trump-affiliated digital assets, though no evidence of such activity has been formally established.