Trump Media Backs Out of Crypto Deals With Crypto.com

Gold prices jumped on Friday after July payroll data showed an unexpected contraction in the U.S. labor market.

Spot gold traded around $4,336 late Friday after rising more than 3% intraday. Bullion gained over 7% for the week, its strongest weekly performance since January.

The weaker jobs report reduced expectations that the Federal Reserve would raise interest rates in September.

Gold had already moved above $4,300 before the report. Softer labor data then pushed Treasury yields and the U.S. dollar lower, supporting further gains.

Firms Cite Market Conditions as Pullback Reduces Trump Crypto Exposure

According to the firms, the decision to terminate the arrangement is due to prevailing market conditions and shifting stakeholder priorities.

Speaking on the issue, Crypto.com CEO Kris Marszalek said, “After analyzing these proposed ETFs and DAT from every angle, we’ve reached the same conclusion: moving forward under current market conditions doesn’t make sense.”

He added that the exchange will pursue other ETF opportunities. With the deal now terminated, Crypto.com has said it will determine how to allocate the CRO tokens intended for the DAT to generate value for the ecosystem.

The shift comes a few months after the Trump Media CEO resigned amidst the company’s struggles. The acting CEO, Kevin McGurn, said the company will now narrow its focus. The firms also ended plans to integrate prediction markets into Truth Social.

Interestingly, many believe it is positive news for the crypto industry. It could mean less regulatory scrutiny of Trump crypto dealings, which is already a major sore point for critics.

Digital Asset Treasury Struggling as CRO Price Falls

Meanwhile, the move by Trump Media and Crypto.com is not surprising given DAT’s struggles. Crypto treasury companies are now sitting on billions in unrealized losses amidst the massive drop in crypto prices.

With no signs of a rebound, the majority of DATs have also pulled back on crypto buying, further contributing to a decline in institutional demand.

In some cases, DATs are selling their crypto assets. Strategy, the largest DAT, has sold over 5,000 Bitcoin in the last three months to shore up its shares. The company could sell up to $1.25 billion worth of BTC.

For others that are not selling, the price pressure means many DATs are now trading at a discount to their assets. This has further made it difficult for these companies to fund their crypto purchase by selling shares.

Interestingly, the crypto market has seen slight gains in the past 24 hours. However, CRO has crashed by 12.82% within that period. It is now trading at $0.0462 and has lost 48% of its value since the start of 2026.

The token’s negative performance is likely due to users’ reaction to the termination of its Trump crypto affiliation. Many CRO holders are criticizing the exchange for inflating the Cronos supply at their expense.

Disclaimer: This article is provided for informational purposes only and does not constitute financial or investment advice. Precious metals and commodity markets can be highly volatile. Readers should conduct independent research and consult a licensed financial advisor before making investment decisions.