CRO Tumbles to 3-Year Low as Trump Media Cancels Crypto.com Deals

The native token of Crypto.com, CRO, has plummeted to its lowest price since late 2023 after Trump Media canceled two major deals with the exchange. The entity behind Truth Social had planned to collaborate with Crypto.com on an ETF deal and accumulate $6.4 billion in CRO. However, the initiative was mutually terminated due to 'prevailing market conditions' and changing business priorities.

The partnership dissolution is the latest example of Trump-linked companies reducing their exposure to the crypto industry. The token's price has dropped below $0.05, with its market cap slumping to under $2.4 billion. CRO has fallen to the 37th position in terms of market capitalization and is down by over 94% from its all-time high.