According to a report by Axios, the Trump Media and Technology Group, which is backed by former President Donald Trump, is retracting from two cryptocurrency agreements.
The report, issued on Friday, indicated that the two planned collaborations with Crypto.com—namely, a prediction market and a treasury—will not proceed.
The publication referenced comments made by Kevin McGurn, the interim CEO of the fusion energy company TAE, explaining that the decision to withdraw from these deals was influenced by an oversaturation in the market for digital asset treasury companies over the past year.
Last year, Trump Media announced its collaboration with the cryptocurrency exchange Crypto.com to establish a Cronos treasury, which was backed by $6.4 billion. Cronos serves as the native coin for Crypto.com’s platform.
Later in 2025, the company disclosed plans to develop Truth Predict, a betting platform in partnership with Crypto.com that would allow users to wager on sports events, elections, and other occurrences.
The popularity of digital asset treasuries surged last year, with several firms emulating Nasdaq-listed software company Strategy to enhance their balance sheets with Bitcoin and other cryptocurrencies.
However, a decline in cryptocurrency prices since October has adversely affected the stock performance of numerous companies that adopted this business model.
McGurn noted that the retreat from these engagements was motivated more by “competitive dynamics” than by regulatory apprehensions surrounding a crypto enterprise associated with the former president.
During his campaign, President Trump advocated for the advancement of the cryptocurrency sector and garnered support from significant figures within the industry.
Since assuming office, he has launched a meme coin and has endorsed the crypto initiative World Liberty Financial, backed by him and his family.
Axios also reported that the exchange-traded funds introduced last year by Trump Media, the special purpose acquisition company Yorkville Acquisition Corp., and Crypto.com will continue as planned.
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