Cronos, the cryptocurrency governed by the Crypto.com-supported Cronos Chain, reached multi-year highs following the announcement of the Trump Media Group CRO Strategy launch.
On Tuesday, the Trump Media and Technology Group revealed a joint $6.4 billion Cronos treasury launch in collaboration with Crypto.com and Yorkville Acquisition.
Cronos (CRO) soared 25% to $0.20 shortly after the news broke, climbing further to over $0.23 on Wednesday, marking its highest point since May 2022, according to CoinGecko data.
The announcement elicited mixed reactions from the community, with some CRO holders feeling optimistic while others voiced skepticism regarding the impact of political figures.
Trump Media’s CRO holdings stand at $1.5 billion
Following the rise of CRO, Crypto.com CEO Kris Marszalek took to X on Wednesday, noting that the crypto asset jumped 40% after the Trump Media Group CRO Strategy was announced.
Trump Media (DJT) shares increased by 5% as reported by Marszalek, who added: “The value of CRO within the Trump Media Group now exceeds $1.5 billion.”
The unveiling of the Trump Media Group CRO Strategy comes nearly four years after the Cronos mainnet beta was launched in early November 2021.
CRO still far from its all-time highs
After exceeding $0.23, CRO’s market capitalization rose above $7.8 billion, marking more than a 44% increase.
Despite achieving multi-year highs, CRO remains approximately 300% below its all-time high of $0.965 recorded shortly after the official Cronos mainnet launch in 2021.
Before the Cronos Chain launch, CRO was known as Crypto.org Coin (CRO), an ERC-20 token on the Ethereum blockchain that was created by Crypto.com founders in November 2018.
In March 2021, Crypto.com transitioned CRO to a decentralized open-source blockchain, the Crypto.org Chain. Shortly after Cronos launched, the token was rebranded to Cronos in February 2022.
Mixed reactions
During the rally, Cronos improved its ranking among top crypto assets by market cap, becoming the 28th largest crypto asset at the time of publishing, according to CoinGecko.
Some commentators on social media displayed optimism toward CRO, suggesting that the asset “deserves a permanent spot in the top 10.”
Others voiced skepticism, highlighting that Cronos canceled a planned 70 billion CRO token burn in March 2025, despite having initially announced it in 2021.
Related: Trump’s crypto ventures yield $2.4B since 2022: Report
“You gave them 6 billion CRO from the tokens initially meant to be permanently burned,” one commentator remarked on X.
Additionally, some skeptics raised concerns about the influence of political figures on CRO’s price.
“Great, so now my crypto portfolio is dependent on what some politician says or does. Just what everyone wanted. Can we not have one aspect free from politics?” another user posted.
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