Crypto.com Token Loses $6B later than Trump-Linked Rally Fades

Trump Treasury Announcement Fails to Hold Gains
The TMTG initiative, majority-owned by the Donald J. Trump Revocable Trust, marked one of the largest corporate treasury commitments to a single crypto asset. But the short-lived rally has left investors questioning both the scale of actual demand and CRO’s long-term role on-chain.
Market Cap Drop and Investor Skepticism
Cronos’s market capitalization has shed more than $6 billion since the late-August peak, halving its value to $6.6 billion at the time of publication. The token has also slipped out of the top 30 cryptocurrencies, ranking 33rd by market value.
On forums such as Reddit and X, frustration is growing. “There is 0 demand for this token. The chain is a ghost town, users are non-existent,” one user posted. Another wrote, “We’re getting rugged, just as I expected when that partnership was announced.” These comments reflect doubts about CRO’s utility beyond headline-driven rallies.
Investor Takeaway
Broader Market fragileness Adds Pressure
Some traders argue the drop is tied to wider market conditions. “It’s a blood bath right now. The entire market is tanking. Has nothing to do with CRO,” one Reddit post read, pointing to September’s history of poor returns. BTC fell below $110,000 on Thursday, adding to the pressure on altcoins.
The Crypto Fear & Greed Index, a barometer of market sentiment, fell below 30 on Friday, its lowest since April. The reading signaled “fear” among investors, suggesting capital flight from higher-risk tokens like CRO.
Regulatory Uncertainty Clouds Treasury Plan
Crypto.com CEO Kris Marszalek has avoided direct comment on the price slump, though he posted this week about supporting the U.S. Commodity Futures Trading Commission’s initiative on tokenized collateral and stablecoins. “We are pleased to support the tokenized collateral and stablecoin initiative and its recommendations for the use of non-cash collateral, including CRO, for regulatory margin requirements,” he wrote on X.
But the $6.4 billion Trump Media treasury plan itself remains under review. The Securities and platform Commission (SEC) has not yet approved the structure, raising doubts about its implementation. The Wall Street Journal reported regulators at the SEC and the Financial Industry Regulatory Authority have contacted more than 200 firms this year that announced crypto treasuries, probing whether they selectively disclosed material information.
The scrutiny reflects concerns that corporate treasury declarations have become a tool to drive speculative rallies without clarity on execution. For CRO holders, the lack of SEC approval raises uncertainty over whether the Trump-linked strategy will materialize as planned.
Investor Takeaway
What Comes Next
Cronos now faces the dual challenge of restoring market confidence while navigating U.S. regulatory scrutiny. Its fall from the top 30 crypto assets highlights the fragility of gains tied to political headlines rather than sustained adoption. While some community members expect a rebound if markets stabilize, others argue that without broader utility, CRO’s rallies will remain vulnerable to reversals.