Trump's Media Company Unwinds Crypto Deals — WSJ

By Vicky Ge HuangPresident Trump's media business is terminating several previously announced deals with exchange Crypto.com, after a nearly yearlong slump in digital assets that has dented prices and dampened investor sentiment.Trump Media & Technology Group said Friday that it will not move forward with its deals with Crypto.com, including a planned crypto treasury company, an integrated prediction markets platform and a service agreement related to exchange-traded funds.The companies cited "prevailing market conditions, and shifting business and stakeholder priorities." Bitcoin, the largest cryptocurrency, has lost roughly half of its value since peaking above $126,000 in October, while the stalling of the Clarity Act-the first regulatory framework expected to usher in wider acceptance of digital assets-has added further pressure.Trump Media's series of partnership announcements began shortly after Crypto.com CEO Kris Marszalek met with then President-elect Trump at Mar-a-Lago in December 2024.In March 2025, Trump Media signed a non-binding agreement with Crypto.com to launch ETFs and other investment products on its financial services platform.A few months later, the two firms partnered with Yorkville Acquisition, a special-purpose acquisition company, to create a new firm called Trump Media Group CRO Strategy.In October, Trump Media announced it would introduce prediction markets on the social-media platform Truth Social through another partnership with Crypto.com.Since cryptocurrencies crashed, Trump Media has pivoted to nuclear energy. In December, the company agreed to merge with an Alphabet-backed fusion energy company in a merger valued at $6 billion.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).