The centralized trade, as soon as beneath hearth for mishandling hundreds of thousands in crypto, is becoming a member of forces with Trump Media to roll out CRO-based rewards on Reality Social.
Centralized trade Crypto.com is betting large on U.S. President Donald Trump with a high-profile partnership with Trump Media, marking a giant push into the U.S. market lower than a 12 months after settling a dispute with the U.S. Securities and Trade Fee (SEC).
In a Tuesday press launch, Trump Media revealed plans to launch a CRO-linked rewards program on Reality Social and Reality+, the social media and streaming platforms created after Donald Trump was banned from X (previously Twitter).
This system is anticipated to combine Crypto.com’s infrastructure, permitting customers to transform earned factors into CRO and entry further perks. Moreover, the 2 corporations plan to collaborate on joint advertising and marketing campaigns and provide subscription advantages tied to CRO.
As a part of the settlement, Trump Media may also make investments $105 million in CRO, equal to about 2% of CRO’s complete provide, whereas Crypto.com will buy $50 million of Trump Media inventory.
The corporations are additionally backing a brand new digital asset treasury firm, Trump Media Group CRO Technique, which is anticipated to handle $1 billion in CRO, $200 million in money, $220 million from warrants, and a $5 billion fairness line.
The value of Cronos’ native token (CRO) jumped over 20% Tuesday following the announcement, reaching ranges not seen since late 2024.
Longstanding Ties
Crypto.com has a protracted historical past with Trump-linked corporations. In December 2024, Marszalek reportedly met with Donald Trump to debate U.S. crypto rules.
Across the similar time, the corporate dropped its lawsuit in opposition to the SEC after receiving a Wells discover citing considerations that some tokens on its platform is perhaps thought-about securities. A number of months later, the SEC abruptly ended its investigation into Crypto.com with out taking any enforcement motion.
However not every little thing has gone easily for Crypto.com. As an example, in November 2022, the Singapore-headquartered firm by chance despatched 320,000 ETH — about $400 million on the time — to the mistaken crypto trade.
Shortly after that, Marszalek addressed the incident through a Q&A, reassuring traders of the corporate’s solvency. A number of weeks later, Crypto.com revealed a proof of reserves, which was performed by the Mazars Group, the previous accountants of the Trump Group.
