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Trump Media () is making a major shift in its crypto strategy.
The company, Crypto.com, and Yorkville Acquisition have mutually terminated plans to create a publicly traded CRO accumulation company, citing changing market conditions and shifting business priorities.
📉 CRO dropped as much as 5% following the news.
🔹 Trump Media previously purchased around $105M worth of CRO 🔹 The proposed company planned to accumulate and stake CRO 🔹 A separate Crypto.com partnership for planned ETFs has also been terminated 🔹 Plans to integrate Crypto.com-powered prediction markets into Truth Social are reportedly being scaled back 🔹 Trump Media is now focusing more on media, data licensing, and its TAE merger 🔹 The company held 9,542 BTC at the end of Q2
🔥 Key Takeaway: Trump Media’s crypto strategy appears to be entering a new phase as the digital asset treasury market becomes increasingly competitive.
📈 The biggest standout is Public Equities & Indices, up 422%, showing growing interest in bringing traditional assets on-chain. RWA adoption is becoming one of the major trends in blockchain. #RWA #Crypto #Blockchain #Tokenization
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