On August 26, 2025, the Trump Media and Technology Group (TMTG), majority-owned by the Donald J. Trump Revocable Trust, announced a $6.4 billion treasury strategy involving Cronos (CRO), the native token of Crypto.com's blockchain. This high-profile announcement triggered an immediate 40% surge in CRO's price, but the rally has since collapsed entirely. By late September, CRO had slipped below $0.19, erasing nearly all gains and returning to pre-announcement levels, according to CoinGecko data.
The token's market capitalization has shed more than $6 billion since its late-August peak, halving in value to approximately $6.6 billion and causing CRO to fall out of the top 30 cryptocurrencies, now ranking 33rd. On forums like Reddit and X, frustration is growing, with users expressing skepticism about CRO's organic demand. One commenter noted, "There is 0 demand for this token. The chain is a ghost town, users are non-existent," while another warned of a "rug pull" effect.
Broader market weakness has exacerbated the decline, with Bitcoin falling below $110,000 and the Crypto Fear & Greed Index dropping below 30—indicating "fear"—its lowest since April. However, regulatory uncertainty looms large: the Securities and Exchange Commission (SEC) has not yet approved the TMTG treasury plan, and regulators are probing over 200 firms for selective disclosure of crypto treasury announcements. Crypto.com CEO Kris Marszalek has avoided direct comment on the price slump but publicly supported the U.S. CFTC's tokenized collateral initiative, highlighting CRO's potential role in regulatory margins.