Today, Trump Media announced the launch of ETF products and digital asset trading "Made in the USA", expected to be released by the end of this year with regulatory approval. This is a new step in expanding Trump's involvement in cryptocurrency, following the launch of Non-Fungible Tokens, meme coins, and plans to open a crypto bank. Immediately after this announcement, the trading volume of CRO increased by 1300%, reaching $278 million in 24 hours after the announcement.
However, Crypto.com is facing sharp criticism as speculation about the re-issuance of 70 billion CRO Tokens is alleged to have shaken investor confidence and threatened the previous strong price surge. The CRO Token initially increased by 35% after partnering with Trump Media, but information about the re-issuance has raised big questions about this price surge.
In this context, experts advise investors to be cautious, emphasizing that this could be a typical pump-and-dump scenario. Independent Blockchain investigator ZachXBT accused Crypto.com of re-issuing 70 billion CRO Tokens that were previously declared permanently burned in 2021. This information emerged just a few weeks before signing with Trump Media, raising suspicions about the real purpose.
This incident has triggered a wave of criticism from the cryptocurrency community. Some opinions suggest this is a major sign of instability. However, some argue that even though CRO is centralized and controlled by Crypto.com, calling this a scam is excessive. The important thing is that most small investors only care about price increases, not decentralization.
The Trump-Crypto.com partnership created excitement, pushing CRO's price above $0.10. However, this excitement may not last due to the CRO ETF still facing legal barriers, and confidence in Crypto.com is being shaken. Investors are curious whether this Token can maintain its momentum or if a major correction is imminent. Time will tell.