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Donald Trump’s media company to terminate Crypto.com deal
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- DeepHorus
Donald Trump’s media company is officially unwinding its cryptocurrency partnership with Crypto.com, a move that reshapes the president’s business ties to digital assets. The Trump Media and Technology Group (TMTG) will terminate two agreements with the exchange, according to an Axios report on Friday. Interim CEO Kevin McGurn confirmed the company is stepping back from a $6.4 billion CRO treasury deal and a plan to add prediction markets to Truth Social.
The treasury agreement, announced in September 2025, would have seen TMTG purchase billions of dollars’ worth of Crypto.com’s CRO tokens, potentially enabling Truth Social users to earn crypto rewards. Just one month later, the platform unveiled Truth Predict, a service intended to host prediction markets. Both initiatives are now being abandoned as TMTG pivots toward a merger with energy company TAE.
In a joint statement, TMTG, Crypto.com, and Yorkville Acquisition Corp cited “prevailing market conditions and shifting business and stakeholder priorities” as reasons for dissolving the treasury deal. McGurn reportedly said the decision was driven more by competitive dynamics than by regulatory concerns, despite the administration’s active role in shaping crypto policy.
The termination marks a significant reversal for Truth Social, which had positioned itself as a crypto-friendly social media platform. Users will no longer receive CRO-based rewards, and the promised prediction market feature will not be integrated. The decision also removes a potential source of recurring revenue tied to token purchases.
The move intensifies criticism from lawmakers who have called for ethics provisions in a proposed crypto market structure bill. Many legislators argue that President Trump’s business interests create conflicts with his administration’s regulatory decisions. The abandonment of the deal does not eliminate those concerns, as the Trump family retains other digital asset investments.
Looking ahead, TMTG’s focus shifts to the TAE merger, which could bring new energy-related opportunities. Meanwhile, the broader crypto industry will watch whether the Trump administration’s regulatory stance changes after a high-profile deal collapse. The termination, effective immediately, leaves Crypto.com seeking alternative partners for its CRO token strategy.
