By Trump Media and Technology Group, one of the Trump family’s largest businesses, has officially started offering Crypto.com’s CRO token as rewards for users of its social media platform Truth Social.
Crypto.com is one of the largest cryptocurrency exchanges in the industry, and the Nasdaq-listed firm has been deepening its partnership with it over the past few months.
The latest announcement, however, came from Truth Social’s parent firm, which will be rewarding Patriot Package subscribers, users of its paid streaming tier, with Crypto.com’s native token, Cronos (CRO).
These rewards, dubbed “Truth gems,” can be earned through user engagement and will be redeemable via the user’s Crypto.com wallet.
CRO’s integration is part of a larger overhaul of Truth Social’s core infrastructure and its offerings.
For instance, the platform’s Patriot Package now offers a range of premium features, including post scheduling, server-side drafts, edit functionality, and access to conversation history in the search results.
By tying CRO into its digital rewards framework, Trump Media may be hoping to amp up engagement on the platform by giving users something tangible for their activity, especially since CRO is a tradeable token with real market value.
Trump Media skips native token for CRO
Trump Media has made no secret of its ambitions in the crypto space, but its decision to offer CRO rewards is a major deviation from its earlier plan to launch a proprietary utility token and accompanying digital wallet.
Back in April, Trump Media CEO Devin Nunes had floated the idea of introducing a native token for subscriptions and product access.
However, the company has now opted for a more immediate, interoperable solution by leaning into CRO’s established infrastructure.
This, however, was not unexpected as over the past months, Trump Media has been quietly building a multi-layered partnership with Crypto.com.
It started with a proposed CRO treasury strategy, followed by a SPAC-backed joint venture focused entirely on the Cronos ecosystem.
As part of that deal, Trump Media committed to purchasing 684.4 million CRO tokens, worth around $105 million, through a combination of stock and cash.
Crypto.com, in turn, acquired a $50 million equity stake in Trump Media, cementing a mutually vested interest in the success of each other’s platforms.
As a part of the collaboration, the duo also wants to co-launch digital asset ETFs via Truth.Fi, Trump Media’s financial services arm.
These funds, which have been slated to track digital assets with a “Made in America” focus, are expected to go live later in 2025, pending regulatory approval.
CRO price fails to react
When reports of Trump Media partnering with Crypto.com first surfaced in August, CRO rallied over 40%.
However, the euphoria was short-lived as the token has since remained in a downtrend.
So far, though, the latest update hasn’t moved the needle much for CRO, with the token showing little reaction in the markets. At press time, the CRO price was standing at $0.25, up 0.4% in the past 24 hours.
CRO/USD monthly price chart. Source: CoinMarketCap.
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