US spot Bitcoin ETFs recorded four straight weeks of net outflows, with about $360 million withdrawn in the latest week. US President Donald Trump’s media conglomerate, Trump Media & Technology Group, has filed paperwork with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) linked to major cryptocurrencies. According to a Friday announcement by its Truth Social Funds arm, the company plans to launch the Truth Social Bitcoin (BTC) and Ether (ETH) ETF alongside the Truth Social Cronos (CRO) Yield Maximizer ETF. The filing has not yet taken effect and remains subject to SEC review. “We plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing with both capital appreciation and income opportunities,” Steve Neamtz, president of Yorkville America Equities, which will act as investment adviser for both funds, said. Read more
Crypto.com is adding Morpho lending to Cronos, allowing users to earn stablecoin yields on wrapped BTC and ETH, mirroring Coinbase’s push into DeFi lending. Crypto.com users will soon be able to lend wrapped crypto assets and earn yield on stablecoins through Morpho, a decentralized finance (DeFi) lending protocol. According to a Thursday statement, Morpho will launch stablecoin lending markets on the Cronos blockchain, with the first vaults expected this year. The integration will allow users to deposit wrapped Ether (ETH) or Bitcoin (BTC) into Morpho vaults and borrow stablecoins against them to earn yield. Wrapped assets are tokens that represent another cryptocurrency on a different blockchain. On Cronos, wrapped tokens such as CDCETH and CDCBTC mirror ETH and BTC, allowing users to bring value into the network and access DeFi lending markets without leaving the chain. Read more
Since the peak of the Trump news-driven rally, Cronos has lost more than $6 billion, or nearly 50% of its market cap. Cronos, the native cryptocurrency of Crypto.com’s Cronos Chain, has faced significant selling pressure since the launch of the Trump Media Group CRO Strategy last month. On Aug. 26, Trump Media and Technology Group (TMTG), the operator of Truth Social and majority-owned by the Donald J. Trump Revocable Trust, announced a joint $6.4 billion Cronos (CRO) treasury. The announcement sparked an immediate 40% rally in CRO’s price. However, since then, the token has steadily declined, almost erasing those gains as CRO tumbled below $0.19 on Thursday, approaching pre-announcement levels, according to CoinGecko data. Read more
Crypto.com-backed CRO jumped 40% on the announcement of the Trump Media Group CRO Strategy, reaching levels not seen since May 2022. Cronos, the native cryptocurrency of the Crypto.com-backed Cronos Chain, surged to multi-year highs following news of the Trump Media Group CRO Strategy launch. On Tuesday, Trump Media and Technology Group announced launching a joint $6.4 billion Cronos treasury with Crypto.com and Yorkville Acquisition. Cronos (CRO) surged 25% to $0.20 within hours after the announcement, before climbing past $0.23 on Wednesday, its highest level since May 2022, according to CoinGecko data. Read more