Cronos (CRO), the native cryptocurrency of Crypto.com's Cronos Chain, has experienced significant selling pressure following the launch of the Trump Media Group CRO Strategy last month. The announcement on August 26, 2025, of a joint $6.4 billion Cronos treasury with Trump Media and Technology Group (TMTG), the operator of Truth Social, initially triggered a 40% surge in CRO's price.
However, this rally proved short-lived. Since then, the token has steadily declined, erasing almost all of the gains. On Thursday, CRO tumbled below $0.19, nearing pre-announcement levels, according to CoinGecko data. This price decline has led to many in the cryptocurrency community questioning the demand for the token, particularly concerning its backing by the Trump-linked TMTG. As of now, Crypto.com CEO Kris Marszalek has not publicly addressed the price drop.
The market capitalization of Cronos has shed over $6 billion since the peak of the Trump news-driven rally, representing a loss of nearly 50%. This places its market cap at $6.6 billion. Consequently, Cronos has dropped out of the top 30 crypto assets and is currently ranked as the 33rd largest by market value, according to CoinGecko.
The decline has spurred mixed reactions among online commentators. Some remain optimistic about future CRO price movements, while others point to the token's lack of utility and demand. One commentator on X (formerly Twitter) stated that CRO would fully retrace the "Trump pump" due to zero demand and a "ghost town" chain. A Reddit user echoed this sentiment, expressing skepticism about the partnership and anticipating a "rug pull".
Some market observers offer a more optimistic perspective, suggesting that the CRO price decline aligns with a broader sell-off in the crypto markets. They argue that the overall market downturn, rather than specific issues with Cronos, is the primary driver of the price decrease.
Adding to the narrative, concerns have been raised about a past decision regarding Cronos tokens. In 2021, Crypto.com burned a significant number of Cronos tokens as part of a deflationary effort to improve the token's value. However, the company has now reissued approximately $7 billion worth of these tokens to fund the Trump media deal. Critics argue that this reversal undermines trust in the project and raises questions about the long-term stability of Cronos. The reissued tokens will increase the Cronos supply to 100 billion coins. This decision has been met with criticism, with some suggesting that it erodes faith in blockchain projects if token burns can be reversed.
