Donald Trump Media Partnership: Crono Spikes 18% After Crypto.com Tie-Up

The Trump Impact: His Partnership Spikes the Price of Crypto Token

Hours after Trump Media and Technology Group announced their plans to partner with the Singapore-based TMTG CEDO crypto firm Crypto.com, their native token has surged by 18%. Cronos (CRO) has indicated a rise of 30% over the past 24 hours to $0.10. The significant surge was followed by Trump’s company announcement. They run the Truth Social. By Monday evening, the trading volume of the CRO has surged almost six times. As the investors rushed to capitalize on the president’s connection, the value hiked from $21 million to $126 million.  As per the daily transaction data of the project, CronoScan has doubled the transactions from 40,0000 to more than 82,000.

Devin Nunes, the TMTG Ceo, expressed in his statement that the current alliance between the pair can create inventive funding as the firms concentrate on technological innovation and rapid growth that could contribute to the strength of the U.S. economy. According to the TMTG, the underway ETFs could gain more exposure to Cronos, Bitcoin, and diverse industries like energy. This is contradictory to the earlier announcement that pointed out the omission of CRO token inclusion. The economic agenda of President Donald Trump’s products will be launching brands across European, US, and Asian markets under the Truth.Fi brand. This is currently pending regulatory approval. The current arrangement places the media company of Trump with the Singapore-based firm that has faced SEC scrutiny for five months. 

The SEC filed their notice last October, intending to sue the exchange for operating within an unregistered securities exchange. The company has rejected the allegations by filing a counter-lawsuit of its own. The crypto firm dropped the suit after the CEO held a meeting with the president-elect Trump. The same month, Donald Trump transferred approximately $4 billion worth of his 53% stake in TMTG. This was done through the trust, which is controlled by his son, Donald Trump Jr. This has transformed the company to the largest shareholder of this media venture. 

The Donald Trump Partnership: What to Expect?

The partnership of Trump Media and Crypto.com to launch their latest ETFs based on Bitcoin, Cronos, and other assets reflected in their market value. The Cronos ETF will require SEC approval, as it is currently in the proposal stage. There are multiple obstacles to the implementation of this program, but still, the value of Cronos has surged more than 18%. This indicates the speculative interest and bullish momentum of the project. Crypto.com has undergone a few changes recently. The major exchange is the issuer of the Cronos token. Although the CRO tokens have fallen dramatically by the end of 2024, the current market dynamics are reflecting its venturing into the market. 

As per the reports, the Trump Media and Technology Group Corp has signed a non-binding agreement. This will partner with crypto.com for the launching of the latest series of ETPs, and ETFs. The ETFs are expected to include digital assets and securities with a focus on Made in America. This will span multiple industries like energy and cryptocurrencies, including Cronos, Bitcoin, and others. As per the announcement, these ETFs still require regulatory approval. It must be noted that Crypto.com and Trump Media have not yet finalized the agreement.

The SEC might be taking a favorable stance for the altcoin ETFs. Trump has personally clarified that the Cronos ETFs might still take months. Yet, there have not been any ETF applications for the altcoins. Another widespread concern is the Made in America angle to the development.  Although the statements discuss US-based products, Crypto.com still has its headquarters in Singapore. The US could still be the primary target of the exchange. The biggest concern is the political scandal that might be connected to Cronos ETF since the Trump token. As per the regulations, US presidents are not supposed to conduct private business, especially with foreigners. The question remains whether the SEC will approve the latest establishments. However, Trump media has ventured deep within the crypto industry and is actively looking forward to the expansion of its investment avenues. The current partnership will help the exchange with its market share in the US. It can also challenge the dominance of Coinbase. 

Cronos: Current Market Analysis Data

The current trading volume of the token while writing the news is $272,245,150 for the last 24 hours. The trading volume of CRO represents 1,307.60% compared to the previous day. The increase in the project’s trading volume indicates a resigning market activity and growing interest.  Check out further details about CRO:

• Market Capitalisation: $2,269,249,886
• Fully Diluted Valuation: $2,485,669,216
• Total Value Locked: $1,031,071
• Circulating Supply: 27,387,995,200
• Total Supply: 30,000,000,000
• Maximum Supply: 100,000,000,000
• Chains: Ethereum Ecosystem

You can easily trade CRO tokens through centralized crypto exchanges. If you are looking forward to the most popular option, then Crypto.com Exchange is the perfect choice. It has a trading volume of $42,739,556 for the last 24 hours. It has the most active trading pair, CRO/USD. You can also explore other popular options like Bitget and OKX. While confirming the exchange, you can conduct your research. Compared to the all-time recorded low, CRO has increased by 809.63%. The project has experienced a price surge of 36.50% in the past seven days. The price range of CRO for 24 hours ranges between $0.08132 and $0.1146. The seven-day price ranges between $0.07721 and $0.1143. The token utility of CRO includes trading, payment, and financial services.