Trump Media and Technology Group and Crypto.com have mutually terminated two key partnerships, including a planned CRO-focused digital asset treasury venture and plans for exchange-traded funds (ETFs), amid shifting corporate strategies and market conditions.
The companies scrapped the “Trump Media Group CRO Strategy, Inc.” — a special purpose acquisition company (SPAC) deal with Yorkville Acquisition Corp. that would have become a publicly traded treasury company accumulating Crypto.com’s native token, CRO. Additionally, Crypto.com will no longer service Yorkville’s ETF offerings, though Yorkville America’s existing and future ETF plans remain unchanged, according to a statement.
Interim CEO Kevin McGurn cited saturated digital asset treasury markets and intensifying competition in prediction markets. Trump Media will still market Crypto.com’s prediction products to its Truth Social user base, but the broader venture pullback reflects a strategic pivot back to media operations.
CRO dropped approximately 4% following the announcement, while Trump Media confirmed it had transferred 2,628 Bitcoin to Crypto.com — but not sold them. The company remains the 14th-largest public Bitcoin treasury, holding over $600 million in BTC.
