Cronos, the native cryptocurrency of Crypto.com’s Cronos Chain, has experienced notable selling pressure since the unveiling of the Trump Media Group CRO Strategy last month.
On Aug. 26, Trump Media and Technology Group (TMTG), which operates Truth Social and is primarily owned by the Donald J. Trump Revocable Trust, revealed a joint $6.4 billion Cronos (CRO) treasury.
This announcement triggered an immediate 40% surge in CRO’s price. However, since that time, the token has consistently declined, nearly negating those gains as CRO fell below $0.19 on Thursday, nearing pre-announcement levels, according to CoinGecko data.
Amidst the price drop, numerous community members have questioned the demand for the token backed by Trump-linked TMTG, while Crypto.com CEO Kris Marszalek has refrained from publicly commenting on the price plunge.
Cronos market cap sheds $6 billion
Since the peak of the rally driven by the Trump news, Cronos has suffered a loss of over $6 billion, or nearly 50% of its market cap, totaling $6.6 billion at the time of publication.
The token has also slipped from the top 30 crypto assets by market cap, currently positioned as the 33rd largest coin by market value, according to CoinGecko.
Some online commentators remain optimistic about future CRO price movements, while others point towards the lack of utility and demand for CRO.
“You need to demand real change. $CRO is going to completely retrace the Trump pump. There is zero demand for this token. The chain is a ghost town, users are non-existent,” one commentator remarked on X on Sunday.
One Reddit user commented, “We’re getting rugged, just as I suspected when that partnership was announced,” reflecting growing doubt among community members.
Broader sell-off?
Some market observers expressed a more positive outlook for Cronos, noting that the decline in CRO price coincides with a wider sell-off in cryptocurrency markets.
“It’s a bloodbath right now. The entire market is crashing. This has nothing to do with CRO. Septembers are typically like this,” another Redditor wrote on Thursday in response to the price drop.
The market has indeed faced pressure over the past week, with Bitcoin (BTC) dropping below $110,000 on Thursday.
The Crypto Fear & Greed Index, a widely used tool for gauging overall market sentiment, fell below 30 on Friday — its lowest point since April 2025 — indicating significant caution and increased fear among investors, as shown on the official index site.
While the community’s reaction to the decline in CRO has been varied, Marszalek has remained silent on the price issue.
SEC yet to approve the $6.4 billion CRO buy
Marszalek addressed the topic on X on Tuesday, posting about Cronos’ support for the tokenized collateral and stablecoin initiative proposed by the US Commodity Futures Trading Commission.
“We are glad to support the tokenized collateral and stablecoin initiative and its recommendations for utilizing non-cash collateral, including CRO, for regulatory margin requirements,” Marszalek stated.
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The tweet has elicited mixed reactions, with some pointing out that the US Securities and Exchange Commission has yet to approve the Trump Media Group CRO Strategy.
Amid the rising trend of crypto treasury announcements, US regulators are reportedly scrutinizing public companies that disclose such initiatives.
The Wall Street Journal reported on Thursday that the SEC and Financial Industry Regulatory Authority have reached out to over 200 companies that announced crypto treasuries this year as part of an investigation into potential violations of rules regarding selective sharing of material nonpublic information.
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