The price of "CRO" has soared by more than 130%. The incumbent president has also been criticized for using his political influence for personal gain.
The value of Cronos's CRO tokens exceeded $2.3 billion. ▼ Cronos surged 130% on news of Trump media partnership.
According to CoinMarketCap on the 28th, the price of the virtual currency Cronos (CRO) is
The price began to rise sharply from the night of the 26th when the partnership was announced. At 8 PM on the 26th (Japan time) before the partnership announcement, Cronos was trading at $0.1608, but at 8 PM on the 28th
As of 3:00 PM, the price was at $0.3492. This represents a 117% increase in less than two days. By the afternoon of the same day, it had temporarily jumped to $0.3712. This was a 130% increase compared to before the partnership announcement.
On the 26th (local time), Truth+ Trump Media announced that it would add Crypto.com's cryptocurrency wallet to its Truth Social and Truth+ platforms.
The company also announced that it will adopt the cryptocurrency's wallet infrastructure and will use Crypto.com's cryptocurrency Cronos (CRO) as a utility token within the platform.
Truth Social is a social media platform operated by Trump Media, and is often used by President Trump.
It is known that if TruthSocial were to implement a Cronos token reward system, it would provide Crypto.com with a significant opportunity to use Cronos.
Additionally, the two companies partnered with Yorkville, a special purpose acquisition company (SPAC), to launch the Trump Media Group.
We will establish a joint venture called "CRO Strategy."
The purpose of the entity is to hold a reserve of Cronos tokens and
The company will invest a total of $1 billion in Cronos tokens, which is equivalent to 19% of Cronos' total market capitalization at the time of the announcement.
Trump Media owns $2.3 billion in Cronos shares...conflict of interest controversy
This has caused the price of Cronos tokens to skyrocket, but some have criticized the Trump family for using their political influence for personal gain.
The news of the partnership with the Trump family company itself will have a significant impact on the token price.
The fact that he has constantly faced conflicts of interest, such as when he launched the asset finance project World Liberty Financial, has also fueled this criticism.
In fact, the news of the partnership caused the value of Cronos tokens held by Trump Media to soar.
Crypto.com CEO Christopher Mazarek announced on the 27th that he will be launching a cryptocurrency called “Trader” on X.
The value of Cronos tokens held by Amp Media has exceeded $1.5 billion. From that point until the 28th, the price of Cronos has risen by approximately 57%.
The value of Cronos tokens held by Cronos Media through the joint venture is estimated at approximately $2.3 billion. Experts say skeptics are concerned that politicians will have undue influence over the token price.
"However, Crypto.com has a history of announcing plans to burn Cronos tokens but then failing to do so, which has left some skeptics," he added.
2025/08/29 10:24 KST
Copyright(C) BlockchainToday wowkorea.jp 118