Donald Trump · Axios · Strategy · Bitcoin · Bitcoin Magazine
Trump Media Pulls Back From Crypto Deals: Report
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Trump Media wants to focus on other business ventures, according to an Axios report.
Key facts
- Trump Media last year said it was working with crypto exchange Crypto.com to build a Cronos treasury with $6.4 billion in backing
- The President Donald Trump-backed media company, Trump Media and Technology Group, is pulling back from two of its crypto deals, according to a report by Axios
- It later in 2025 said it was working with Crypto.com on Truth Predict, a betting platform to allow users to put money on sports games, elections and other events
- Axios added that the exchange-traded funds debuted last year by Trump Media, special purpose acquisition company Yorkville Acquisition Corp., and Crypto.com would continue
Summary
The President Donald Trump-backed media company, Trump Media and Technology Group, is pulling back from two of its crypto deals, according to a report by Axios. The publication reported Friday that the two deals with Crypto.com, a prediction market and treasury, would not go ahead. Citing comments from fusion energy company TAE’s interim CEO, Kevin McGurn, the publication said that Trump Media had pulled the deals as the market for digital asset treasury companies had become saturated over the past year. Trump Media last year said it was working with crypto exchange Crypto.com to build a Cronos treasury with $6.4 billion in backing.