Crypto.com is optimistic about the last quarter of this year, expecting that upcoming rate cuts by the Fed may positively impact digital asset markets.
Impact of Rate Cuts on the Market Last Year
A look back at last year provides promising insights. Between September and December, the Fed reduced interest rates from 5.5% to 4.5%, corresponding with a 57% increase in cryptocurrency values. CEO Kris Marszalek suggests a similar uptrend might occur again this year.
Crypto.com and IPO
Currently, despite strong financial metrics suitable for a public listing, Crypto.com chooses to remain private. Last year’s impressive figures included $1.5 billion in revenues and a near $1 billion gross profit. While the appeal of an IPO is acknowledged, the company hasn’t reached a conclusive stance.
Partnership with Trump Media & Technology Group
Crypto.com’s partnership with Trump Media & Technology Group, managing the Truth Social platform, marks a significant milestone. This collaboration aims to develop a treasury strategy involving their token, Cronos (CRO). Following this announcement, CRO’s value soared by 150% to $0.38, although it later declined to $0.27.
Future prospects for digital asset markets appear promising as Crypto.com navigates through potential opportunities, aiming for substantial growth and expansion.
