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Trump Media and Technology Group has terminated its planned Cronos treasury venture with Crypto.com and Yorkville Acquisition Corp., while also scaling back a related prediction markets push.
According to reporting by BeInCrypto, the company also ended a related services agreement and abandoned a set of digital asset products tied to the partnership. Interim CEO Kevin McGurn said the move was driven by a desire to refocus the business, adding that saturation in the crypto treasury sector — not regulatory pressure — was behind the decision.
CRO treasury deal was billed as a major launch
The planned venture would have licensed the Trump Media brand and been built around Crypto.com’s Cronos blockchain and CRO token. At launch, the partners had described it as the first and largest publicly traded CRO treasury firm.
Yorkville Acquisition Corp. agreed to the termination. However, Yorkville America’s America First ETFs, which are branded as Truth Social Funds, will continue operating.
McGurn said Trump Media will now concentrate on Truth Social, data licensing, and its pending merger with fusion energy company TAE, which he expects to close before year-end.
Truth Predict strategy shifts to marketing deal
The companies also pulled back from their earlier prediction markets plan. Trump Media had unveiled Truth Predict last October, with infrastructure powered by Crypto.com Derivatives North America.
Instead of continuing with that back-end arrangement, the firms will now pursue a marketing agreement that promotes Crypto.com’s prediction products to Truth Social users. McGurn said the prediction market space is already crowded with established operators, making the infrastructure side less attractive.
For readers following prediction markets, the immediate takeaway is that Trump Media is moving away from operating or building these products directly and toward a lighter promotional role.
What to watch next
Trump Media’s next disclosed milestones appear to be outside the abandoned crypto initiatives. McGurn said the company’s Truth Social API business now serves about 10 customers, up from roughly five before, with most of those users described as high-frequency trading firms. He also said the company is courting large language model developers and prediction market platforms.
For now, the key change is clear: the original Crypto.com-linked treasury and prediction-market buildout has been pared back, with Trump Media choosing a narrower strategy instead.
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Source: As reported by Lockridge Okoth.
