CRO Rallies As Crypto.com CEO Kris Marszalek Meets With Donald Trump To Discuss Bitcoin Reserve: Report

Crypto.com CEO Kris Marszalek has met with US President-elect Donald Trump to discuss the future of the industry ahead of the new administration’s entry into the White House.

According to a new Bloomberg report, Marszalek and Trump recently met at Mar-a-Lago to discuss the possibility of a national Bitcoin (BTC) reserve, among other things.

The exchange’s native token Cronos (CRO) shot up over 25% as news of the CEO’s meeting with Trump.

Says a Crypto.com representative of the meeting,

“We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the US can become a global leader in digital assets and innovation.”

The crypto industry, including some of the space’s largest exchanges, has reacted positively to Trump’s win, which is largely viewed as a boon to the booming cryptosphere.

Said a Coinbase spokesperson to Bloomberg on the matter,

“We’re gratified by the degree that the new incoming administration team has had an open door with Coinbase and the crypto community.”

A Crypto.com spokesperson mirrored those sentiments while saying the firm has already withdrawn its lawsuit against the U.S. Securities and Exchange Commission (SEC).

“We withdrew our action against the SEC given our intent to work with the incoming administration on a regulatory framework for the industry.”

CRO is trading for $0.193 at time of writing, up 12% on the day.

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Featured Image: Shutterstock/Rakhimov Edgar