The centralized exchange, once under fire for mishandling millions in crypto, is joining forces with Trump Media to roll out CRO-based rewards on Truth Social.
Centralized exchange Crypto.com is betting big on U.S. President Donald Trump with a high-profile partnership with Trump Media, marking a big push into the U.S. market less than a year after settling a dispute with the U.S. Securities and Exchange Commission (SEC).
In a Tuesday press release, Trump Media revealed plans to launch a CRO-linked rewards program on Truth Social and Truth+, the social media and streaming platforms created after Donald Trump was banned from X (formerly Twitter).
The program is expected to integrate Crypto.com’s infrastructure, allowing users to convert earned points into CRO and access additional perks. Additionally, the two companies plan to collaborate on joint marketing campaigns and offer subscription benefits tied to CRO.
As part of the agreement, Trump Media will also invest $105 million in CRO, equivalent to about 2% of CRO’s total supply, while Crypto.com will purchase $50 million of Trump Media stock.
The firms are also backing a new digital asset treasury company, Trump Media Group CRO Strategy, which is expected to manage $1 billion in CRO, $200 million in cash, $220 million from warrants, and a $5 billion equity line.
The price of Cronos’ native token (CRO) jumped over 20% Tuesday following the announcement, reaching levels not seen since late 2024.
Longstanding Ties
Crypto.com has a long history with Trump-linked companies. In December 2024, Marszalek reportedly met with Donald Trump to discuss U.S. crypto regulations.
Around the same time, the company dropped its lawsuit against the SEC after receiving a Wells notice citing concerns that some tokens on its platform might be considered securities. A few months later, the SEC abruptly ended its investigation into Crypto.com without taking any enforcement action.
But not everything has gone smoothly for Crypto.com. For instance, in November 2022, the Singapore-headquartered company accidentally sent 320,000 ETH — about $400 million at the time — to the wrong crypto exchange.
Shortly after that, Marszalek addressed the incident via a Q&A, reassuring investors of the company’s solvency. A few weeks later, Crypto.com published a proof of reserves, which was conducted by the Mazars Group, the former accountants of the Trump Organization.
Source: https://thedefiant.io/news/cefi/crypto-com-bets-big-on-trump-just-months-after-settling-with-sec
