Trump Media & Technology Group Corp. no longer intends to establish a digital treasury company (DAT) that would buy Crypto.com's CRO token. The agreement had been reached about a year earlier, with the original plan calling for billions of dollars in CRO to be purchased through the venture. The end came on Aug. 7, 2026.
Both firms also abandoned a separate initiative to put prediction market contracts on Truth Social, as well as an arrangement for Crypto.com to handle certain ETF products.
This retreat signals a pullback by the company controlled by Donald Trump from digital-asset ventures, coming after the price of Bitcoin slid by nearly half from last year's high to roughly $65,000 and the appetite for corporate vehicles that stockpile tokens faded.
Crypto.com's chief executive said the company reviewed the proposals and concluded that proceeding now is not practical. Kris Marszalek, the chief executive of Crypto.com, wrote in an emailed statement: "After analyzing these proposed ETFs and DAT from every angle, we've reached the same conclusion: moving forward under current market conditions doesn't make sense."
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He added: "We will continue to pursue other ETF opportunities. As for the CRO committed to the DAT, we'll find a better way to allocate these resources in order to drive revenue, increase demand and grow the value of the ecosystem."
The exchange reiterated that additional ETF products remain part of its plans. A request for comment from Trump Media was not immediately returned.
The end of the token and prediction-market agreements reverses the companies' year-old expansion into crypto-related products. The slump in digital-asset prices has cooled enthusiasm for companies that load up on tokens, making the canceled treasury plan less attractive. For Crypto.com, walking away may preserve capital that would have been tied up in an uncertain market, and the company says it will look for other ways to drive demand for CRO.
In December, Trump Media disclosed plans to combine with TAE Technologies Inc., a privately held fusion company established in 1998, in a deal worth over $6 billion. According to Trump Media, the all-stock transaction would leave stockholders of each firm with roughly half of the merged company. Though the original merger arrangement had involved separating some assets, including Truth Social, the firms announced in June that this was no longer being pursued. Last month, the company said it would charge for real-time feeds from the social network's "highest-ranking" accounts.
Crypto.com said a short time ago that Citadel Securities LLC put $400 million into the exchange, valuing it at around $20 billion.
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