Crypto.com's Cronos (CRO), the native cryptocurrency of Crypto.com's Cronos Chain, has faced significant selling pressure since the launch of the Trump Media Group's CRO strategy last month.
On August 26, the Trump Media Technology Group (TMTG) — the operator of Truth Social, held by the Donald J. Trump Revocable Trust — announced a $6.4 billion CRO joint treasury.
The announcement immediately triggered a 40% surge in CRO prices. However, the token has since continued to decline, nearly erasing those gains. According to CoinGecko data, CRO fell below $0.19 on Thursday, approaching pre-announcement levels.
During the price drop, many in the community questioned the demand for this token supported by the Trump-related TMTG, while Crypto.com CEO Kris Marszalek has so far avoided publicly addressing the price decline.
Since the peak of the Trump news-driven surge, Cronos has lost over $6 billion, or nearly 50% of its market capitalization, which stood at $6.6 billion at the time of writing.
According to CoinGecko data, the token has also fallen out of the top 30 cryptocurrencies by market capitalization, currently ranking 33rd.
Some online commentators remain optimistic about the future trajectory of CRO prices, while some market observers point to the lack of utility and demand for CRO.
"You need to demand real change. CRO will once again completely give back the Trump-driven gains. This token has zero demand. The chain is a ghost town, users are nonexistent," one commentator wrote on X on Sunday.
A Reddit user commented, "We are being harvested, just as I expected when that partnership was announced," reflecting the growing skepticism among community members.
Some market observers are more optimistic about Cronos, emphasizing that the CRO price is consistent with the broader sell-off in the crypto market.
"Now is a bloodbath. The whole market is crashing. It has nothing to do with CRO. September is usually like this," another Reddit user wrote on Thursday in response to the price drop.
The market has indeed faced pressure over the past week, with Bitcoin falling below $110,000 on Thursday.
The Crypto Fear and Greed Index — a popular tool measuring overall market sentiment — fell below 30 on Friday, the lowest level since April 2025, indicating strong caution and heightened fear among investors, as shown on the official index website.
While the community's reaction to the CRO drop remains mixed, Marszalek has avoided commenting on the price.
On Tuesday, Marszalek posted on X that Cronos supports the U.S. Commodity Futures Trading Commission's initiatives on tokenized collateral and stablecoins.
"We are pleased to support the tokenized collateral and stablecoin initiatives and their recommendations regarding the use of non-cash collateral, including CRO, to meet regulatory margin requirements," Marszalek said.
This tweet sparked both negative and positive reactions, with some emphasizing that the U.S. Securities and Exchange Commission (SEC) has not yet approved the Trump Media Group's CRO strategy.
In light of the growing trend of crypto treasury announcements, U.S. regulators have reportedly scrutinized publicly traded companies announcing such initiatives more closely.
The Wall Street Journal reported on Thursday that the SEC and the Financial Industry Regulatory Authority have contacted over 200 companies that announced crypto treasuries this year as part of an investigation into potential violations of rules prohibiting selective disclosure of material nonpublic information.
Related: Opinion: Crypto treasury companies face risks similar to the bursting of the 2000s internet bubble
Original: “Cronos (CRO) erases Trump news-driven gains, raising demand questions”
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