Donald Trump’s media company to terminate Crypto.com deal
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- TMTG is terminating its deal with Crypto.com, pulling back from both a $6.4 billion CRO treasury deal and plans to integrate prediction markets onto Truth Social, with interim CEO Kevin McGurn citing a strategic shift toward a merger with energy company TAE.
- Crypto.com, TMTG, and SPAC partner Yorkville Acquisition Corp jointly attributed the dissolution to "prevailing market conditions and shifting business and stakeholder priorities."
- McGurn said the rollback was driven more by competitive dynamics than by regulatory concerns about the administration overseeing the crypto industry while the Trump family holds digital asset investments.
- Trump continues to face scrutiny from lawmakers demanding ethics provisions in a pending crypto market structure bill to eliminate conflicts of interest between the first family and its crypto holdings, a related Bloomberg report noted.
- Truth Social had announced the prediction markets service as "Truth Predict" in October, while the CRO treasury deal was first announced in September 2025 and would have allowed Truth Social users to receive crypto rewards.
Why it matters: TMTG is walking away from a $6.4 billion token treasury deal that would have placed Crypto.com's CRO at the center of Truth Social's economy — a major retreat for a company that had bet heavily on crypto rewards. With TMTG redirecting toward an energy-sector merger with TAE, the ethics pressure on Trump over his family's digital asset holdings stays squarely in the congressional crosshairs.
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