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BTC 
CRO 
WLFI Trump Media and Crypto.com abandon US$6.42 billion financial joint venture
Trump Media and Crypto.com abandon the US$6.42 billion financial joint venture originally planned around Cronos (CRO), citing changes in the market environment and adjustments in corporate priorities.
Key points: Trump Media, Crypto.com and Yorkville Acquisition Corp. Discontinued plans to build a publicly traded Cronos financial company. The companies also canceled a service agreement and plans to bring forecasting market contracts to the Truth Social platform. An independent investigation has linked a $100 million World Freedom Token Purchase deal to an ongoing money laundering investigation in the UK.
Trump Media terminates Cronos financial plan
According to a joint statement, the three companies terminated the proposed "Trump Media Group CRO strategy" last Friday. Crypto.com will also stop serving the blank check company's exchange-traded fund plan, but the existing Truth Social-branded fund remains in operation. The joint venture originally planned to license Trump Media's brand to a publicly traded company, which would accumulate CRO tokens and pledge them to generate additional revenue. Interim CEO Kevin McGurn said the digital asset finance space has become crowded as more listed companies follow the same balance sheet practices. The two companies also abandoned service agreements and plans to bring forecasting market contracts to the Truth Social platform, respectively.
After the announcement, the CRO token fell as much as 5% at one point and traded at about $0.048 on Monday. As part of a broader cooperation, Trump Media purchased $105 million in the token in September 2025, and the position was not closed.
World Free Finance investors face money laundering probe
An investigation revealed that the businessman behind Abu Dhabi fund Aqua1 is Guren "Bobby" Zhou, which purchased US$100 million in World Free Finance (WLFI) governance tokens in June 2025. British authorities arrested Zhou in 2021 on suspicion of money laundering, but prosecutors never charged him. Officials said the investigation was still ongoing as of the end of July. Company documents show that a Web3Port entity registered in The British Virgin Islands changed its name to Aqua1GP Limited about two weeks before the purchase announcement was announced. Zhou previously ran a British flooring retailer that entered the restructuring process and owed about $5 million to a company controlled by his father.
Trump's cryptocurrency venture investment attracts congressional attention
Under Free World Finance's income distribution agreement, up to $75 million from the Aqua 1 purchase flowed into a company controlled by Donald Trump and his sons. A spokesperson said the company complies with applicable laws and runs compliance programs that meet or exceed industry standards. The White House said the president had no conflicts of interest. Congress has been concerned about the Trump family's cryptocurrency holdings for more than a year, and five Democratic senators in June requested a hearing on the reported United Arab Emirates's US$500 million investment in world free finance. As far as Trump Media is concerned, it still holds 9542 Bitcoin (BTC) and approximately 756 million CROs on its balance sheet and is currently seeking a merger with fusion energy company TAE.
