PWTorch.com reports that the Cryme Tyme release stemmed from actions the tag team performed following their Terre Haute house show match against Cade and Murdoch.
According to the Torch report, the two teams had reportedly been developing heat with each other over the course of the past few weeks. That built into an incident prior to the match, in which Shad Gaspard told Lance Cade that "what happens in the ring happens," essentially implying that there might be some stiff shots exchanged. Cade mocked Gaspard's threat in front of a number of wrestlers backstage.
In order to get back at Cryme Tyme for what they perceived as a threat, Cade and Murdoch met with the referee and arranged a rib. Essentially, the plan was to "fast count" while JTG was out of the ring, resulting in a count out loss for Cryme Tyme; Cryme Tyme was unaware of this plan until it was executed in front of the live audience.
In what sources say was a move to save face, Cryme Tyme then decided, without telling the referee, to execute their finishing move on him (they reportedly did so safely, but it was still unexpected). They also tossed his belt into the crowd.
Words were exchanged in the backstage area following the segment, and WWE management eventually made the call to release Cryme Tyme, who were reportedly on thin ice with management anyway due to what some backstage perceived as an attitude problem. The tag team was reportedly unhappy and surprised with WWE's decision.
The increased scrutiny on WWE stemming from the Benoit tragedy, the Congressional investigation and the recent steroid controversy has resulted in a zero-tolerance policy backstage.