Donald Trump’s media company to terminate Crypto.com deal — SkimNews
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- TMTG is terminating its $6.4 billion CRO treasury deal with Crypto.com and shelving its Truth Predict prediction markets service to focus on a merger with energy company TAE
- The September 2025 deal would have had Trump Media purchase billions in CRO tokens and potentially allow Truth Social users to earn crypto rewards
- Interim CEO Kevin McGurn cited "prevailing market conditions and shifting business and stakeholder priorities," saying competitive dynamics drove the rollback more than regulatory concerns
- The dissolution involves Crypto.com, TMTG, and special purpose acquisition company Yorkville Acquisition Corp
- Donald Trump faces ongoing lawmaker scrutiny over ethics provisions in a crypto market structure bill aimed at eliminating conflicts of interest between the Trump family and its digital asset investments
Why it matters: The $6.4 billion CRO deal dissolution redirects TMTG's focus toward a TAE energy merger and kills Truth Social's prediction markets launch, with interim CEO McGurn citing competitive dynamics rather than regulatory concerns. Lawmakers continue pressing for ethics provisions in crypto market structure legislation targeting the Trump family's digital asset conflicts.
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