Cronos (CRO), the native token powering Crypto.com’s Cronos Chain, has struggled to hold onto its momentum after the high-profile launch of the Trump Media Group CRO Strategy last month.
On August 26, Trump Media & Technology Group (TMTG) — the company behind Truth Social and majority-owned by the Donald J. Trump Revocable Trust — revealed a $6.4 billion CRO treasury initiative. The news sent CRO soaring by nearly 40% in a matter of hours.
But that excitement quickly faded. By Thursday, CRO slipped below $0.19, nearly back to its pre-announcement levels, according to CoinGecko, erasing most of the “Trump pump” gains. The token has been under constant selling pressure since the initial surge.
$6 billion wiped from Cronos market cap
The reversal has been brutal. Cronos’ market capitalization has shrunk by more than $6 billion since its peak in late August, falling almost 50% to around $6.6 billion. That slide also pushed CRO out of the top 30 crypto assets, with the token now ranked 33rd by market value.
Community members have been divided on what’s behind the slump. Some argue that the CRO ecosystem lacks demand and utility, calling the Trump-backed partnership more hype than substance. One user on X wrote:
“The Trump pump is done. CRO is heading back to where it started. There’s zero demand and the chain feels deserted.”
Others expressed frustration on Reddit, with one post bluntly stating, “We’re getting rugged, just as I predicted when that deal was announced.”
Broader market pain or token-specific weakness?
Not everyone is convinced the decline is specific to CRO. Some traders noted that the token’s price action reflects a broader downturn across the crypto market.
“Everything is bleeding, not just CRO,” one Reddit user commented. “Bitcoin’s falling hard, September always hits the market this way.”
Indeed, Bitcoin dipped below $110,000 this week, dragging the overall crypto market with it. Meanwhile, the Crypto Fear & Greed Index slipped under 30 for the first time since April 2025, signaling a sharp turn toward fear among investors.
Silence from Marszalek, SEC approval still pending
Crypto.com CEO Kris Marszalek has avoided directly addressing the token’s decline. Instead, he highlighted on X that Cronos would support the Commodity Futures Trading Commission’s tokenized collateral and stablecoin initiative.
His post drew mixed reactions from the community, with some noting that the $6.4 billion Trump Media Group CRO Strategy still requires approval from the U.S. Securities and Exchange Commission.
Adding to the uncertainty, regulators are reportedly tightening their oversight of corporate crypto treasury announcements. According to the Wall Street Journal, the SEC and FINRA have already contacted more than 200 companies this year as part of an inquiry into whether firms may have selectively disclosed market-moving information.
For now, CRO sits at a crossroads — with its Trump-driven rally gone and its long-term demand still very much in question.
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