Cronos (CRO) token

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Trump Media boosts CRO, converting Truth Gems to crypto with Truth Social integration
Yahoo Financeยท 2025-09-09 15:56
Core Insights - Truth Social has integrated Cronos (CRO) tokens into its platform, enhancing the utility of the token and providing new engagement incentives for users [1][2] - The integration allows subscribers of the premium Patriot Package to convert accumulated Truth Gems into CRO tokens, expanding the use cases of CRO beyond traditional trading [2] - Crypto.com CEO highlighted this development as a significant milestone for the CRO ecosystem, indicating a strategy focused on increasing token demand through partnerships [3] Token Performance - Following the announcement, CRO experienced a price surge of over 4%, reaching a peak of $0.27 before settling at $0.25 [4] Strategic Partnerships - Trump Media & Technology Group (TMTG), the parent company of Truth Social, has entered into a purchase agreement with Crypto.com for 684.4 million CRO tokens, valued at approximately $105 million, which constitutes about 2% of the token's circulating supply [5] - TMTG has launched a new entity aimed at acquiring up to 19% of CRO's supply through a planned SPAC merger, establishing a dedicated digital asset treasury around CRO [6] Future Plans - Crypto.com is also involved in Trump Media's plans to develop digital asset exchange-traded products, with intentions to launch a suite of crypto-based ETFs later this year, pending regulatory approval [7]