Crypto Scandal Brewing: Trump’s Cronos ETF Plan Exposed 🤯
As the world holds its breath, Trump Media and Crypto.com have announced a partnership that could shake the very foundations of the crypto industry.
Like a wild mustang, Cronos has surged by over 18% on the back of speculative interest and bullish momentum. But can Trump Media really launch a Cronos ETF? 🤔
The Plot Thickens…
Crypto.com, a major exchange with a penchant for drama, has been through a few changes recently. And although CRO fell dramatically at the end of 2024, the exchange has ventured into new markets, like a phoenix from the ashes. 🔥
Today’s partnership with Trump Media Group triggered a bullish cycle for the CRO token, as the announcement hinted at a potential Cronos ETF. But is this a case of “be careful what you wish for”? 🤷♂️
“Trump Media and Technology Group Corp has signed a non-binding agreement to partner with Crypto.com to launch a series of ETFs and ETPs. The ETFs are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy [and] cryptocurrencies incorporating Bitcoin, Cronos, and others,” a press release stated.
But wait, there’s more! The announcement clarified that these ETFs still require regulatory approval. And Crypto.com and Trump Media haven’t finalized a “definitive” agreement, even if the resultant ETFs will include Cronos. It’s like a game of cat and mouse, with the SEC as the referee. 🏈
Meanwhile, Cronos reached a yearly high in December after reports of the Crypto.com CEO and the US President’s meet-up and its legal resolution with the SEC. But CRO has suffered a 30% drop since then. Today’s news brought fresh liquidity into the altcoin, like a breath of fresh air. 🌿
The SEC may be looking favorably on altcoin ETFs, but one based on Cronos is totally out of left field. Even if Trump personally intervenes, a Cronos ETF may still be months away. There haven’t been any ETF applications for the altcoin yet. It’s like trying to find a needle in a haystack. 🌾
And then there’s the “Made in America” angle. Although the statement discusses US-based products, Crypto.com is currently headquartered in Singapore. The US is still the exchange’s primary target market. It’s like a game of “catch me if you can”. 🎯
The biggest problem, however, is that a Cronos ETF could be the biggest political crypto scandal since the TRUMP token. US Presidents are not supposed to conduct private business in any capacity, especially with foreigners. It’s like a ticking time bomb. ⏰
Could Trump’s firm expect to win the SEC’s highest stamp of approval? Even if it did, wouldn’t that impact the Commission’s own legitimacy? It’s like a never-ending puzzle. 🤯
Overall, it’s evident that Trump Media is venturing deeper into the crypto industry and looking to extend its investment avenues. Such a partnership will also help the exchange increase its market share in the US and challenge Coinbase’s dominance. It’s like a game of chess, with the world as the board. 🎲
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2025-03-25 02:56