Key Notes
- CRO rallied 30% after saying a partnership with Fact Social.
- Crypto.com generated $1.5 billion in income final 12 months, the CEO stated.
- ZachXBT criticized the corporate for its plans of minting 70 billion CRO tokens.
Cronos (CRO), the native token of Crypto.com change’s Cronos Chain, recorded a powerful value surge following a partnership with President Donald Trump’s Fact Social.
On March 24, Crypto.com joined forces with Trump Media’s social platform “to launch a series of” crypto-backed exchange-traded funds (ETFs) and exchange-traded merchandise (ETPs). It will reportedly embody funding merchandise related to Bitcoin
BTC
$88 180
24h volatility:
1.8%
Market cap:
$1.75 T
Vol. 24h:
$23.30 B
and CRO.
Because of the announcement, the Crypto.com-affiliated CRO token’s value reached an area excessive of $0.115 earlier in the present day. Regardless of a slight pull-back, CRO remains to be up 30.3% previously 24 hours and is buying and selling at $0.107 on the time of writing.
NEW: @realDonaldTrump’s media firm Trump Media, guardian firm of Fact Social, has introduced a partnership with @cryptocom to launch a collection of ETFs and ETPs “comprised of digital property in addition to securities with a Made in America focus spanning various industries equivalent to… pic.twitter.com/Bxkfw6w3Ti
— Eleanor Terrett (@EleanorTerrett) March 24, 2025
The partnership with Fact Social comes a couple of days after the change’s income report. On March 19, Crypto.com CEO Kris Marszalek posted on X that the corporate generated $1.5 billion in income in 2024.
Nonetheless, the criticism from the crypto group heated once more.
In 2021, Crypto.com burned 70 billion CRO tokens, 70% of its whole provide, in an try to extend the worth of the remaining property.
On March 2, Cronos introduced a proposal for minting 70 billion CRO for its “Cronos Strategic Reserve. The suggestion has already been authorized with over 62% of sure votes.
This triggered huge criticism from the crypto group because the change allegedly had extreme voting energy. Furthermore, the mint will consequently lower the worth of the CRO circulating provide.
On-chain sleuth ZackXBT slammed the change for its plans of bringing again 70% of the CRO provide.
Among the group members mentioned that Crypto.com may use its income to build up a few of CRO’s present circulating provide as a substitute of printing new tokens to assist enhance the asset’s worth.
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Wahid has been analyzing and reporting on the newest traits within the decentralized ecosystem since 2019. He has over 4,000 articles to his identify and his work has been featured on among the main retailers together with Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Apart from reporting, Wahid likes to attach the dots between DeFi and macro on his publication, On-chain Monk.
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