Trump Media & Technology Group (TMTG), under acting CEO Kevin McGurn, has abandoned its cryptocurrency expansion plans to refocus on its core media and data businesses. The company, alongside Crypto.com and Yorkville Acquisition Corp., canceled the Trump Media Group CRO Strategy, which aimed to create a publicly traded firm for purchasing and staking Crypto.com’s CRO token, citing “prevailing market conditions and shifting business and stakeholder priorities.” TMTG is also retracting plans for prediction markets on Truth Social, opting instead to advertise Crypto.com’s products. This shift comes as TMTG prepares for a merger with fusion-energy firm TAE Technologies and faces mounting losses from Bitcoin investments exceeding $555 million.
TMTG is withdrawing from the crypto-treasury market amid increasing congestion. Acting CEO Kevin McGurn stated, “We wanted to get focused.”
The company is not abandoning crypto entirely but shifting toward a distribution and partnership model. This approach lets Crypto.com offer crypto products while TMTG concentrates on its media, audience, and data businesses.
The strategic change coincides with Democratic Senators Richard Blumenthal and Elizabeth Warren requesting an SEC investigation into the Official Trump (TRUMP) memecoin. The senators’ letter noted that after the TRUMP memecoin crashed by about 98%, over one million investors lost over $3.81 billion, while Trump and early participants made about $636 million.
Trump’s larger cryptocurrency businesses reportedly earned about $1.4 billion in 2025, prompting calls for the CLARITY Act to include ethics provisions. A tax-deferral clause was added to address the potential tax burden from a forced asset sale.
During the 2025 Bitcoin rally, Trump Media’s BTC holdings reached roughly $1.456 billion, with an unrealized gain of about $88 million. However, subsequent price declines led to losses.
Trump Media has since reduced its Bitcoin exposure. The company lost roughly $145 million after selling an additional 2,628 BTC for $165.07 million. It also locked in about $318 million in losses in 2026 by selling 7,281 BTC for $545 million at an average price of about $74,860. Overall, the company’s Bitcoin investment has resulted in losses of up to $555 million.
