Truth Social and its sister platform Truth+ have announced a new feature that allows users to convert their rewards into CRO tokens.
Conversion of Rewards to CRO Tokens
Users on Truth Social will be able to exchange 'gems'—the platform's engagement rewards—directly for CRO tokens. This decision puts to rest rumors about a potential launch of a proprietary token, providing users the ability to utilize Crypto.com's infrastructure.
Market Reaction to the Announcement
The announcement led to a sharp increase in CRO token price, which many traders viewed as a significant move towards crypto adoption. Given the scale of Truth Social's user base and the political implications of the project, the market reacted positively to the news.
Trump Media Group's Token Strategy
Earlier this year, Trump Media Group had already shown interest in the CRO token. The company announced plans to establish a digital asset treasury with the goal of acquiring more than $6.4 billion worth of CRO, emphasizing their long-term commitment to the Cronos ecosystem.
The new feature on Truth Social enhances the platform's integration with cryptocurrencies and may encourage wider adoption of CRO among users, while also affirming Trump Media Group's strategic goals in this area.
