The Cronos (CRO) token, associated with
Crypto.com, has experienced increased functionality. This comes after its integration with Truth Social, the social media platform supported by former U.S. President
Donald Trump.
On September 9th, Truth Social
announced
that subscribers to its premium “Patriot Package” will now have access to “Truth Gems.” This feature rewards user activity on the platform. Accumulated Gems can now be exchanged for Cronos tokens using Crypto.com’s integrated wallet.
This update bolsters user engagement within the Truth Social ecosystem. It also broadens the potential uses of CRO beyond standard cryptocurrency exchange transactions.
Kris Marszalek, CEO of Crypto.com,
commented on the development, calling it another significant achievement for the CRO token’s network.
“Step by step, the utility of $CRO grows daily,” he stated, highlighting the company’s commitment to fostering consistent demand for the token through strategic partnerships.
According to CryptoSlate data, the announcement led to a surge in CRO’s price, climbing over 4% to briefly reach $0.27. At the time of this report, the price had slightly adjusted to $0.25.
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Trump Media and Crypto.com Strengthening Ties
This integration demonstrates a growing partnership between
Trump Media & Technology Group (TMTG), the parent organization of Truth Social, and Crypto.com.
Earlier in the month, TMTG finalized an agreement with the exchange to purchase
684.4 million CRO tokens, valued at approximately $105 million. The deal, settled using a combination of cash and company stock, accounts for roughly 2% of the token’s total circulating supply.
This arrangement followed the
announcement of Trump Media Group’s CRO Strategy, a newly formed entity with the objective of acquiring up to 19% of the token’s total supply through a planned SPAC merger. According to the company, this initiative is intended to establish a dedicated digital asset reserve centered around CRO.
Beyond directly acquiring tokens, Crypto.com is also playing a key role in Trump Media’s strategies involving digital asset exchange-traded products. In March, both companies announced plans to introduce a range of
crypto-based ETFs later this year, pending regulatory clearance.