Crypto Token Cronos Spikes Following Trump Media, Crypto.com Tie-Up
Crypto investors are amassing CRO hours after a Trump-linked venture announced a partnership with the Singapore-based crypto firm.

The native token Crypto.com outpaced most digital assets Monday after Trump Media and Technology Group announced plans to develop exchange-traded funds with the exchange.

Cronos (CRO) is up 30% over the last 24 hours to $0.10, CoinGecko data shows, following a significant surge on the announcement of Trump’s company, which runs Truth Social.

Trading volume for CRO exploded almost six times from $21 million to $126 million by Monday evening as traders raced to capitalize on the presidential connection.

The daily transactions chart from CronoScan shows that transactions have more than doubled from roughly 40,000 to over 82,000.

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The SEC filed notice in October last year that it intended to sue Crypto.com for operating an unregistered securities exchange, allegations the company firmly rejected and countered in a lawsuit of its own.

By December, the crypto firm had dropped its suit right when its CEO met with then-President-elect Trump.

In the same month, Trump transferred roughly $4 billion worth of his roughly 53% stake in TMTG through a trust controlled by his son, Donald Trump Jr., making him the company's largest shareholder of the media venture, SEC filings show.