Story perspectives

Trump Media, Crypto.com End $6.3 B CRO Treasury Deal

8/8/2026

Summary

TMTG Cancels CRO

TMTG and Crypto.com terminated their planned CRO treasury venture, which would have held 6.3 billion CRO; CRO fell about 5 % to near $0.05, cutting its market cap to $2.4 billion.
Interim CEO Kevin McGurn said TMTG will focus on media and complete a merger with TAE Technologies in 2026.
TMTG holds 9,542 bitcoin and transferred 2,628 bitcoin—$165 million—to Crypto.com wallets, ending a deal that would have let Crypto.com service Yorkville America ETFs.

Summary

TMTG Drops CRO

Trump Media announced the termination of its CRO token venture in early August 2026, releasing statements on August 7 and August 8, 2026.
The company said the saturated digital-asset treasury market limited profit opportunities for token-accumulation strategies.
It also cited the stall of Washington’s pending crypto-related bills, which leaves the industry without new regulatory guidance.
Analysts note the move marks a retreat from the aggressive crypto expansion many firms pursued in 2025.

History

Historical Context

In June 2019 Facebook launched the Libra stablecoin, backed by an initial $10 million from each founding partner. Within days U.S. officials—including Rep. Maxine Waters, Fed Chair Jerome Powell, and President Trump—demanded a halt, and by October most partners withdrew. The project rebranded as Diem and wound down in January 2022, showing how regulatory push-back repeatedly derails large corporate crypto ventures such as the 2026 TMTG-Crypto.com deal.

1 of 3

TMTG Cancels CRO

TMTG and Crypto.com terminated their planned CRO treasury venture, which would have held 6.3 billion CRO; CRO fell about 5 % to near $0.05, cutting its market cap to $2.4 billion.
Interim CEO Kevin McGurn said TMTG will focus on media and complete a merger with TAE Technologies in 2026.
TMTG holds 9,542 bitcoin and transferred 2,628 bitcoin—$165 million—to Crypto.com wallets, ending a deal that would have let Crypto.com service Yorkville America ETFs.

1 / 3