Cronos joined 10% after Crypto.com announced a partnership with Trump Media to create new ETF Altcoin. Today’s announcement is a binding agreement that is based on previous relations.
CRO is the native cryptocurrency of the Cronos blockchain, developed by Crypto.com. It serves as a usefulness token in the crypto.com ecosystem, facilitating various functions such as setting up, transaction costs payments and access to advantages through exchange services.
Last month, Crypto.com announced a non -binding partnership with Trump Media. This has seen a growing market interest in the token, but also attracted severe criticism.
More specifically, the company reissued 70 billion CRO tokens which were “permanently burned” in 2021. The two companies have just announced a binding agreement, but it caused smaller gains:
This new agreement between Crypto.com and Trump Media seems significantly similar to the last. The two companies have undertaken to launch new ETFs based on unpertured digital assets and “titles with a Made in America Focus”, specifically mentioning energy companies.
Crypto.com expressed interest in an ETF CRO, making it a probable target for this partnership.
“The platform is the main platform to reject crypto and traditional finance, and this agreement testifies to these capacities. This partnership gives Trump Media ETF ETF propelled by the Crypto.com platform. This is a victory for Trump Media, Crypto.com, Cro, and Yorkville America Digital”, said Kris Marszalek, Co-founder and Peo de Crypto.com.
On the surface, it may seem that dry approval is the largest obstacle to Trump media and crypto.com. The commission was flooded with requests since Trump took office, but no new ETF Altcoin has yet been approved.
As a report yesterday claimed, various cryptographic companies received tangible regulatory breakthroughs since their donation to the inauguration of Trump.
Several companies (including Crypto.com) have entered the SEC surveys, while others, such as Galaxy Digital, have obtained commission approval for the main commercial enterprises.
Of course, Trump’s presidency promised a wave of pro-Crypto regulations, it could therefore be unfair to distinguish specific businesses as beneficiaries.
In addition, an ETF approval is a big problem, and even a more user -friendly dry may not give it easily. Whether or not markets think that the SEC would accelerate this product has no impact on the real result.
As analysts ETF have pointed out, the entire market is saturated at the moment. There are 72 active proposals for new ETF Altcoin, but Bitcoin controls 90% of the Crypto ETF market.
If an ETF CRO wins the approval, it can compete with a huge wave of newcomers on tiny pieces of the BTC market share. Maybe investors do not see it as a probable option.
Overall, Trump and Crypto.com double their partnership, and this could have large long -term implications. All the above factors (or a mixture of several) could explain this result.
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