New details on the $1 billion Crypto.com-Trump Media crypto venture reveal Trump Media's heavy losses and IP-only contribution, while an October 2025 Truth Social betting integration heightens concerns over the deal's timing after a dropped federal probe and political donations.
Crypto.com's federal investigation, ongoing for over a year under President Biden, ended abruptly after Donald Trump's 2024 election victory. The SEC formally dismissed the probe on March 27, 2025, following negotiations that delayed action until post-inauguration; Crypto.com withdrew a countersuit in exchange. Spokeswoman Victoria Davis attributed the closure to a lack of merit, denying political ties.
Amid $11 million in donations to Trump-affiliated groups—including $1 million for the inauguration and $10 million to MAGA Inc.—and lobbying via Trump fundraiser Jeff Miller, Crypto.com announced in August 2025 a $1 billion partnership with Trump Media and Technology Group. The Trump Media Group CRO Strategy acts as a treasury for Crypto.com's Cronos token, with Crypto.com providing most funding in tokens. Trump Media, majority-owned by Trump and operator of Truth Social (launched 2022), contributes intellectual property licenses for a substantial ownership stake but minimal cash. Yorkville Advisors also holds majority ownership alongside parties. Trump Media reported over $400 million in losses last year and trades at $10.50 per share.
This reflects Trump's pivot from labeling bitcoin a 'scam' in 2021 to pro-crypto policies, including his family's World Liberty Financial and deregulation pledges. In October 2025, Crypto.com added a Truth Social marketplace for betting on events like elections.
Ethics experts remain critical: Campaign Legal Center's Kedric Payne called it 'pay-to-play'; former SEC official Corey Frayer likened it to a 'plea deal'; law professor Hilary Allen noted the suspicious sequence. Trump Media's Shannon Devine dismissed concerns as partisan, White House spokeswoman Karoline Leavitt cited Trump's trust, and Chairman Devin Nunes praised it as 'the future of finance.'
