Why did Trump's media's $6.4 billion CRO hoarding plan go bad?
By Angelilu, Foresight News
Original title: Worth $6.4 billion, Trump Media Group's CRO hoarding plan has gone bad
A year ago, Trump Media Technology Group (DJT) and crypto exchange Crypto.com held high-profile hands and said they wanted to set up a publicly traded treasury company to hoard billions of dollars in CRO. At the time, this politically strong affiliated company set up a stage to sing with a leading exchange, which made a huge impact. A year later, the capital game came to an end sadly.
On August 7, DJT, Crypto.com, and SPAC company Yorkville officially announcedterminationsThis plan, along with the previously announced forecast market and ETF escrow program cooperation, was put on hold. Bitcoin's peak is almost at a standstill, and there is a collective decline in coin hoarding listed companies — after all, this collaboration, which began as a result of being close to politics, failed to reach the point where it came to fruition.
At what stage has the suspended cooperation been carried out
The most important part of this partnership is to re-establish a publicly traded CRO treasury company. In August 2025, three parties made a high-profile announcement: Trump Media will use SPAC company Yorkville to establish a company called Trump Media Group CRO Strategy, claiming to be the “first and largest publicly traded CRO treasury company,” and plans to stock up about 6.313 billion CROs — close to one-fifth of the current CRO circulation. The entire company is approximately $6.42 billion, comprised of $1 billion in CRO, $200 million in cash, $220 million in warrants, and a $5 billion equity line of credit.
However, momentum returned; in fact, this treasury plan never actually came to fruition. It was only a framework agreement announced in August 2025. It had to go through a major SEC filing and approval process for the backdoor listing, which would have been delayed for more than half a year; it remained in a “to be completed” state until it was directly suspended a year later, and was never established.
Along with the yellow one, there are two additional packages. Truth Predict, which was originally intended to be embedded into Truth Social's prediction market product — which allows users to bet on politics, economics, and sporting events — has now shrunk to a paperMarketing cooperation, Crypto.com only promotes its own prediction market to Truth Social users; Crypto.com also stopped providing escrow arrangements for ETFs owned by Trump Media.
The only one that has actually been implemented and is still in effect is another independent agreement. In August 2025, Trump Media spent about $105 millionBuy CROOn balance sheet, Crypto.com bought back $50 million of DJT shares. This transaction was unaffected by this termination, and it became the only link that did not let go of during this exit.
Politics closer first, commercial transactions later
To figure out why this game of chess fell to Crypto.com, we have to look back — it was political closeness that paved the way for commerce first.
Before and after the 2024 US election, Crypto.com has been handing olive branches to the Trump campaign: for the inaugurationDonatedOne million dollars, and another $10 million was invested in MAGA Inc., the pro-Trump super political action committee; CEO Kris Marszalek also personally visited Sea-Lake Manor to discuss crypto policies with Trump in person. In March 2025, the US Securities and Exchange Commission (SEC) dropped its investigation into Crypto.com — and not long before that, the agency had warned Crypto.com about potential enforcement actions.
The relationship paved the way, and a commercial partnership only came to fruition in August 2025. The Trump media wanted a crypto story, a bunch of tokens that could be listed, and an ETF custodian; Crypto.com wanted to use Trump's fame to endorse a self-issued CRO.
Precisely because of this, the deal had the smell of a conflict of interest from the first day it was announced — the Trump administration itself had the power to oversee the crypto industry, yet the company linked to his family was deeply tied to an exchange that had just donated money and had just been released by the SEC. Senator Elizabeth Warren and others have publicly called for an investigation into whether the relevant SEC decision involved political factors.
Why was it withdrawn? Currency prices and markets don't give opportunities
The official statement is quite straightforward. Crypto.com CEO Kris Marszalek said in a statement: “After reviewing these proposed ETFs and DATs from every perspective, we came to the same conclusion — it's not reasonable to continue in the current market environment.” He also said that the company will use the CRO that was originally promised to invest in the treasury for other purposes to drive revenue, demand, and ecological value. People close to the deal, according to The BlockrevealedThis shift is more due to changes in the competitive landscape rather than fear of the embarrassing situation where “Trump-related companies are regulated by the Trump administration.”
But the market has written the answer in the price. As of press time, CRO reported around $0.0616, down about 70% in a year — a downturn since the official announcement of the partnership last year.
Looking at it from a distance, Bitcoin has slipped from a high of about $126,000 in October 2025 to around $65,000 now, and has almost fallen short. The popularity of coin-hoarding listed companies is declining overall — data from early January 2026 shows that the stock prices of at least 37 of the world's top 100 DAT have fallen below net holding value (NAV). Even the industry benchmark Strategy (formerly MicroStrategy) is trading at a discount, and even began selling bitcoins to make up for dividends from preferred stocks.
Now that the sea has receded, who wants to build another multi-billion dollar CRO treasury?
Trump Media's Next Stop: U-Turn Nuclear Fusion
The crypto story has come to an end, and the Trump media has taken a U-turn to a direction that cannot be matched by cryptography. In December 2025, the companypronouncementsThe total stock merger with the nuclear fusion company TAE Technologies has a valuation of more than 6 billion US dollars. The shareholders of both parties will each hold about half of the shares after the transaction is completed, and the end is expected to end in mid-2026. The nuclear fusion company, founded in 1998, will use Trump media to enter the capital market, and the focus after the merger clearly shifts from social media and encryption to clean energy.
In other words, terminating the CRO treasury was not an isolated retreat, but a part of the overall transformation of the Trump media — it is busy repackaging itself from a “Trump concept crypto player” into a company betting on cutting-edge energy.
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