Trump Media & Technology Group, the parent company of Truth Social, has abandoned plans to launch a CRO treasury venture with Crypto.com, triggering a sharp sell-off in the Cronos blockchain’s native token. The decision marks a significant pullback from the company’s once-ambitious push into digital assets.

TMTG, Crypto.com, and special purpose acquisition company Yorkville Acquisition Corp. jointly announced the mutual termination of the proposed Trump Media Group CRO Strategy, along with a previously disclosed services agreement and related digital asset products. The companies cited “prevailing market conditions” and “shifting business and stakeholder priorities” as reasons for scrapping the deal, according to a report from Axios…