Cryptocom CRO Token Sees Insane Surge: Is Trump’s ETF Plan the Game-Changer?
Native coin Crypto.com managed to overtake many digital assets yesterday. Monday, following the announcement by Trump Media and Technology Group that it will be working with the exchange to create exchange-traded funds. CoinGecko data indicates that Cronos (CRO), which is up 30% in the last day to $0.10, has had a notable upswing after Trump’s company, which operates Truth Social, was announced.
By Monday night, traders were rushing to profit from the presidential connection, and the volume of trading for CRO had nearly doubled, from $21 million to $126 million. According to the CronoScan daily transactions chart, the number of transactions has more than doubled, rising from about 40,000 to over 82,000.
TMTG Partners With Crypto.com to Launch Truth.Fi ETFs: Regulatory Hurdles Ahead?
TMTG CEO Devin Nunes said in a statement that the partnership aims to establish innovative funds with companies that focus on technology innovation, quick growth, and bolstering the U.S. economy. TMTG also disclosed that, in contrast to previous pronouncements that did not contain the CRO token, the ETFs currently in operation would provide exposure to Bitcoin, Cronos, and a variety of industries, including the energy sector.
In order to fit with a strategy emphasized by President Trump’s economic program, products will be introduced under the Truth.Fi brand in the U.S., European, and Asian markets, subject to regulatory approval. The deal puts President Trump’s media corporation in a business relationship with a Singaporean company that was under SEC scrutiny only five months ago.
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