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The President Donald Trump-backed media firm, Trump Media and Know-how Group, is pulling again from two of its crypto offers, in response to a report by Axios.
The publication reported Friday that the 2 offers with Crypto.com — a prediction market and treasury — wouldn’t go forward.
Citing feedback from fusion vitality firm TAE’s interim CEO, Kevin McGurn, the publication mentioned that Trump Media had pulled the offers as the marketplace for digital asset treasury corporations had turn out to be saturated over the previous yr.
Trump Media final yr mentioned it was working with crypto change Crypto.com to construct a Cronos treasury with $6.4 billion in backing. Cronos is the native coin of Crypto.com’s platform.
It later in 2025 mentioned it was working with Crypto.com on Reality Predict, a betting platform to permit customers to place cash on sports activities video games, elections and different occasions.
Digital asset treasuries exploded in recognition final yr, with corporations following within the footsteps of Nasdaq-listed software program firm Technique to construct stability sheets with Bitcoin and different cryptocurrencies.
However a droop in costs since October has damage the inventory of plenty of corporations who adopted the enterprise concept.
McGurn was quoted saying that the choice to reduce was pushed extra by “aggressive dynamics” relatively than regulatory considerations surrounding a crypto firm backed by the president.
President Trump campaigned on a ticket to assist the crypto area and obtained backing from main gamers within the area.
The president since taking workplace has launched a meme coin and he and his household backed a crypto undertaking, World Liberty Monetary.
Axios added that the exchange-traded funds debuted final yr by Trump Media, particular objective acquisition firm Yorkville Acquisition Corp., and Crypto.com would proceed.
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Frequently Asked Questions
Why is Trump Media pulling back from crypto deals?
Trump Media and Technology Group is pulling back from two crypto deals with Crypto.com due to a saturated market for digital asset treasury companies. This decision was influenced by aggressive market dynamics rather than regulatory concerns.
What were the crypto deals Trump Media had planned?
Trump Media had planned two crypto deals with Crypto.com: a prediction market called Reality Predict and a Cronos treasury with $6.4 billion in backing. Both deals will not proceed as reported by Axios.
What is Cronos in relation to Crypto.com?
Cronos is the native coin of Crypto.com’s platform. Trump Media was working with Crypto.com to build a Cronos treasury, which aimed to support digital asset treasury operations.
How has the crypto market affected Trump Media's plans?
The recent downturn in cryptocurrency prices has negatively impacted many companies, including Trump Media, which decided to pull back from its crypto initiatives due to the aggressive dynamics in the saturated market.
Are there any ongoing projects between Trump Media and Crypto.com?
Yes, despite pulling back from certain deals, the exchange-traded funds launched last year by Trump Media, Yorkville Acquisition Corp., and Crypto.com will continue to operate.
