Trump Media Abandons Crypto Projects with Crypto.com
By: rootdata|2026/08/09 10:53:01
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Trump Media and Technology Group (TMTG) has canceled two projects with Crypto.com, including a CRO-based crypto treasury and prediction markets. The new management plans to focus on the media business and the merger with TAE. Acting CEO of TMTG, Kevin McGurn, noted that the crypto treasury market has become oversaturated. In September 2025, Trump Media purchased CRO tokens worth $105 million, but at the time of the cancellation, losses amounted to $77.2 million. The companies also decided not to continue the service agreement and digital products. The launched America First ETF will continue operations. Instead of creating its own infrastructure for prediction markets, the companies plan a marketing deal to promote Crypto.com products among Truth Social users. McGurn emphasized that competition in this segment has increased, so TMTG will focus on distribution partnerships and data licensing. TMTG aims to complete the merger with TAE by the end of 2026.
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