US President Donald Trump’s company, the Trump Media and Technology Group (TMTG), is pulling back from a deal with the Crypto.com exchange to instead focus on a merger with energy company TAE
US President Donald Trump’s company, the Trump Media and Technology Group (TMTG), is pulling back from a deal with the Crypto.com exchange to instead focus on a merger with energy company TAE.
First reported by Axios on Friday, TMTG interim CEO Kevin McGurn said that the company would pull back from two Crypto.com deals aimed at creating a $6.4 billion CRO treasury and integrating prediction markets into its Truth Social platform. The Trump media company, crypto exchange, and special purpose acquisition company Yorkville Acquisition Corp said “prevailing market conditions and shifting business and stakeholder priorities” led to the dissolution of the treasury deal.
TMTG announced the CRO treasury deal in September 2025, in which President Trump’s company would purchase billions of dollars worth of Crypto.com’s CRO tokens, potentially allowing Truth Social users to receive crypto rewards. The media platform followed with an October announcement that it planned to enable prediction markets under the service Truth Predict.
McGurn reportedly said that the decision to roll back the deals was driven more by competitive dynamics rather than regulatory concerns surrounding the administration regulating the crypto industry. The US president continues to face scrutiny from many lawmakers calling for ethics provision in a crypto market structure bill to eliminate conflicts of interest between the Trump family and its digital asset investments.
Related: Proposed CLARITY ethics deal could save Trump millions in taxes: Bloomberg
