Truth Social’s parent company, Trump Media and Technology Group, is pulling back from two Crypto.com deals as new leadership refocuses the tech firm around its media arm and pending merger with fusion energy company TAE, interim CEO Kevin McGurn told Axios.
Ending the CRO venture
On Friday, Trump Media, Crypto.com, and Yorkville Acquisition Corp. mutually agreed to terminate plans for Trump Media Group CRO Strategy.
The companies cited “prevailing market conditions and shifting business and stakeholder priorities.”
The proposed venture would have licensed the Trump Media name for a company built around Crypto.com’s Cronos blockchain and its CRO token.
When announced last year, the companies described it as the “first and largest publicly traded CRO treasury company.”
McGurn said the staking of those assets had become less important for Crypto.com, so both sides moved in a different direction.
A saturated market
The reset departs from previous leadership’s strategy, which aggressively pursued crypto and financial services opportunities during the treasury boom of 2025.
McGurn explained:
“We wanted to get focused.”
He added that the market for digital asset treasury companies had become saturated over the past year, and that the decision was driven by competitive dynamics rather than regulatory concerns surrounding a Trump-linked company.
Prediction markets scaled back
In a separate announcement, the two companies said they are scaling back plans to integrate prediction markets directly into Truth Social.
Instead, they plan a marketing arrangement promoting Crypto.com’s prediction-market products to Truth Social users.
McGurn noted the company’s API business now has about 10 customers, up from five, and said TMTG hopes to close its proposed merger with TAE before year’s end.
