Cronos, the native cryptocurrency of Crypto.com’s Cronos Chain, has confronted vital promoting stress because the launch of the Trump Media Group CRO Technique final month.
On Aug. 26, Trump Media and Know-how Group (TMTG), the operator of Reality Social and majority-owned by the Donald J. Trump Revocable Belief, introduced a joint $6.4 billion Cronos (CRO) treasury.
The announcement sparked an instant 40% rally in CRO’s worth. Nonetheless, since then, the token has steadily declined, nearly erasing these positive factors as CRO tumbled beneath $0.19 on Thursday, approaching pre-announcement ranges, in accordance to CoinGecko knowledge.
Amid the worth decline, many in the neighborhood have questioned demand for the token supported by Trump-linked TMTG, whereas Crypto.com CEO Kris Marszalek has to this point averted publicly addressing the worth drop.
Cronos market cap sheds $6 billion
Since the height of the Trump news-driven rally, Cronos has misplaced greater than $6 billion, or almost 50% of its market cap, amounting to $6.6 billion at publication.
The token has additionally dropped out of the highest 30 crypto property by market cap, at present rating because the thirty third largest coin by market worth, in accordance to CoinGecko.
Some on-line commentators remained hopeful about additional CRO worth motion, whereas some market observers pointed to the shortage of CRO’s utility and demand.
“It is advisable to demand actual change. $CRO as soon as once more goes to completely retrace the Trump pump. There’s 0 demand for this token. The chain is a ghost city, customers are non-existent,” one commentator wrote on X on Sunday.
One Reddit consumer commented, “We’re getting rugged, simply as I anticipated when that partnership was introduced,” reflecting rising skepticism amongst group members.
Broader sell-off?
Some market watchers had been extra optimistic about Cronos, highlighting that the CRO worth got here in step with a broader sell-off on crypto markets.
“It’s a blood bathtub proper now. All the market is tanking. Has nothing to do with CRO. September’s are normally like this,” one other Redditor wrote on Thursday, commenting on the worth fall.
The market has certainly been underneath stress prior to now week, with Bitcoin (BTC) tumbling beneath $110,000 on Thursday.
The Crypto Worry & Greed Index, a preferred instrument for measuring total market sentiment, tumbled beneath 30 on Friday — its lowest degree since April 2025 — signaling sturdy warning and heightened worry amongst traders, as proven on the official index website.
Whereas group response to CRO decline has remained combined, Marszalek has averted commenting on the worth.
SEC but to approve the $6.4 billion CRO purchase
Marszalek took to X on Tuesday to publish about Cronos supporting the tokenized collateral and stablecoin initiative by the US Commodity Futures Buying and selling Fee.
“We’re happy to help the tokenized collateral and stablecoin initiative and its suggestions for the usage of non-cash collateral, together with CRO, for regulatory margin necessities,” Marszalek stated.
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The tweet has gathered each detrimental and constructive reactions, with some highlighting that the US Securities and Change Fee has but to approve the Trump Media Group CRO Technique.
Amid the rising development of crypto treasury bulletins, US regulators have reportedly taken a more in-depth have a look at public firms asserting such initiatives.
The Wall Avenue Journal reported on Thursday that the SEC and Monetary Trade Regulatory Authority have contacted greater than 200 firms that introduced crypto treasuries this 12 months as a part of a probe into potential breaches of guidelines in opposition to selective sharing of fabric nonpublic info.
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