Cronos Wipes Out Trump Pump Gains as $6 Billion Vanishes from Market Value

Cronos Wipes Out Trump Pump Gains as $6 Billion Vanishes from Market Value

Cronos Slides Back to Pre-Trump Levels

Cronos (CRO), the native token of Crypto.com, has erased nearly all of its gains from last month’s Trump Media-linked announcement, losing more than $6 billion in market value.

On August 26, Trump Media and Technology Group (TMTG) — majority-owned by the Donald J. Trump Revocable Trust — unveiled a $6.4 billion Cronos treasury strategy. The news sparked an immediate 40% surge in CRO’s price, briefly lifting the token above $0.19.

But in the weeks since, that rally has completely unraveled. On Thursday, CRO dipped below $0.19, returning to pre-announcement levels, according to CoinGecko data.

Market Cap Loss Nears 50%

At its September peak, Cronos touched $13 billion in market value. Today, it sits at $6.6 billion, a staggering 50% decline, and has fallen out of the top 30 cryptocurrencies, now ranked 33rd by market capitalization.

Community sentiment has soured. One X commentator bluntly wrote: “There is 0 demand for this token. The chain is a ghost town, users are non-existent.” On Reddit, another added: “We’re getting rugged, just as I expected when that partnership was announced.”

Broader Market Pressures

Not all traders are pointing fingers at Cronos. Some argue the sell-off mirrors the wider crypto downturn. Bitcoin slipped below $110,000 on Thursday, dragging sentiment across the market.

The Crypto Fear & Greed Index, a widely tracked sentiment barometer, fell below 30 on Friday — its lowest reading since April 2025 — signaling deep investor caution.

The Crypto Fear & Greed Index. Source: Alternative.me

Silence from Crypto.com Leadership

Crypto.com CEO Kris Marszalek has remained quiet on CRO’s slide, opting instead to discuss regulatory initiatives. Earlier this week, he praised the U.S. Commodity Futures Trading Commission’s efforts to expand the use of tokenized collateral, including CRO, for regulatory margin requirements.

However, critics note that the SEC has yet to approve TMTG’s $6.4 billion CRO strategy, adding another layer of uncertainty.

Regulators Eye Crypto Treasuries

Regulatory scrutiny is building. According to The Wall Street Journal, the SEC and FINRA have contacted more than 200 companies that announced crypto treasury holdings this year, probing possible breaches of selective disclosure rules.

For now, Cronos finds itself in limbo: squeezed between fading market confidence, the weight of a broader sell-off, and looming regulatory questions.