Trump Media boosts CRO, converting Truth Gems to crypto with Truth Social integration
Crypto.com-related Cronos token has acquired a major utility increase after being built-in into Truth Social, the media platform backed by US President Donald Trump.
On Sept. 9, Truth Social revealed that subscribers of its premium Patriot Package will achieve entry to Truth Gems, a rewards characteristic tied to person exercise on the platform. These Gems, as soon as amassed, can now be transformed into Cronos tokens via Crypto.com’s pockets infrastructure.
The replace enhances the platform’s engagement incentives whereas increasing CRO’s use instances past alternate buying and selling.
Crypto.com CEO Kris Marszalek described the event as one other milestone for the token’s ecosystem.
“Step by step — $CRO utility rising day-after-day,” he stated, emphasizing the corporate’s technique of constructing constant token demand via partnerships.
Following the information, information from CryptoSlate confirmed that CRO surged greater than 4%, briefly reaching $0.27 earlier than retracing to $0.25 at press time.
Trump Media and Crypto.com
The integration displays a broader alignment between Trump Media & Technology Group (TMTG), Truth Social’s dad or mum firm, and Crypto.com.
Earlier this month, TMTG accomplished a purchase order settlement with the alternate for 684.4 million CRO tokens, value about $105 million. The deal, paid in a mixture of money and inventory, represents roughly 2% of the token’s circulating provide.
That settlement adopted the launch of Trump Media Group CRO Strategy, a brand new entity designed to purchase up to 19% of the token’s provide via a deliberate SPAC merger. According to the corporate, the initiative goals to create a devoted digital asset treasury constructed round CRO.
Beyond direct token accumulation, Crypto.com can also be central to Trump Media’s plans for digital asset exchange-traded merchandise. Both corporations introduced in March that they intend to launch a set of crypto-based ETFs later this yr, pending regulatory approval.
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