Trump Media, the entity behind Truth Social, announced the mutual termination of two major deals with Crypto.com and Yorkville Acquisition, citing evolving business priorities and prevailing market conditions. The plans included a strategy to acquire 6.4 billion dollars worth of CRO tokens and a 5 billion dollars credit facility. The native token of Crypto.com has plunged below 0.05 dollar, its lowest level since October 2023, with a market capitalization under 2.4 billion dollars. The price has dropped more than 94% from its all-time high of 0.89 dollar reached in late 2021. Trump Media’s interim CEO Kevin McGurn wants the company to focus on its pending merger with fusion energy company TAE.
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