Crypto.com towards IPO: revenues of $1.5 billion, agreement with Trump Media and expectations on the Fed

Crypto.com reignites the possibility of a listing: the group estimates revenues around $1.5 billion by 2025 (with an expected gross margin close to $1 billion, approximately 66% of revenues) and recently announced a strategic partnership with Trump Media for a new treasury structure dedicated to the Cronos token Crypto.com.

The agreement, reported in international publications and dated August 26, 2025, has been described as a plan for significant allocations in CRO for treasury purposes Reuters.

Meanwhile, markets are closely watching the possibility of a monetary policy easing by the Federal Reserve in the September 2025 meetings, an event that could influence liquidity and risk appetite Fed. It should be noted that the macro context remains central in determining risk appetite.

According to the data collected from analytical desks and on-chain providers monitored by our team, the announcement has generated measurable movements in CRO flows on exchanges and in market-making activities, phenomena that historically can precede phases of volatility.

Industry analysts also note that the combination of consolidated revenues and a high-profile partnership increases the likelihood that the group may consider a public offering window if market conditions remain favorable.

Key Data (context and numbers)

• 2025 Revenue: approximately $1.5 billion; gross margin expected around $1 billion (equivalent to ~66% of revenue, according to company statements and market presentations).
• Operating profit indicated: approximately $300 million after reinvestments, preliminary indication provided by management in the communications.
• New Cronos Treasury with Trump Media: a fundraising exceeding $6.4 billion is speculated, as reported by Reuters on August 26, 2025.
• Fed Timing: the rate decision is expected at the meetings in September 2025, with scenarios anticipating increased liquidity in case of monetary easing.

Why IPO rumors return on Crypto.com

CEO Kris Marszalek emphasized that a more accommodative monetary policy environment could support a sector recovery in the fourth quarter.

With solid 2025 accounts, some investment banks have already approached the company for a potential IPO, while awaiting a formal decision on the timing and structure of the operation, as reported in the recent company statement Crypto.com. In this context, it is observed how the visibility accumulated by the group is fueling expectations in the capital markets Crypto.com IPO rumors.

At the moment, the company remains private. The management emphasizes the flexibility of this setup but admits that the current numbers would create a favorable market window, should conditions allow.

An interesting aspect is that the choice of the listing path could be calibrated based on volatility and the sentiment of institutional investors markets and sentiment.

Fed and cryptocurrencies: effects of a possible rate cut

The hypothesis of a rate cut in the September 2025 meetings could increase liquidity and reduce financing costs, factors historically favorable for risky assets, including cryptocurrencies.

An accommodative decision by the Fed can encourage risk-on phases, although price support will depend on investor positioning and volatility that remains high. It should be noted that the elasticity of crypto flows tends to react quickly to macro shocks, for better or worse Fed impact crypto.

Agreement with Trump Media: how treasury works on Cronos

Recently, the collaboration between Crypto.com and Trump Media was announced, with the aim of creating a treasury structure focused on the Cronos (CRO) token.

The initiative involves the development of payments, subscription services, and possible financial instruments linked to investment vehicles on the token, also integrating cross-investments between the parties. In this context, the treasury function aims to build a more predictable demand in the token market.

According to Reuters, Trump Media and related parties have allocated over $6.4 billion to purchase Cronos for treasury purposes, with an immediate positive impact on market sentiment. Crypto.com, for its part, has announced its intention to schedule purchases of Trump Media shares, thereby strengthening the connection between the two groups.

It should be noted that the operational timelines and treasury governance will be elements closely watched by investors.

Why the Agreement Weighs on the IPO Hypothesis

• Structural token demand: a dedicated treasury provides a recurring buyer and potentially stabilizes the demand for Cronos.
• Signal to the markets: high-profile partnerships increase visibility and strengthen the growth narrative ahead of a listing.
• Revenue diversification: new services related to payments and subscriptions can expand the revenue mix.
• Reputational risk: association with a prominent brand in the political sphere can introduce polarizations and potential image or regulatory controversies.

Sports and Prediction Markets: The Alliance with Underdog

Crypto.com has unveiled plans to enter the world of prediction markets in collaboration with Underdog, leveraging an architecture compliant with regulations issued by the CFTC to enable offerings on sports and political events.

The “CFTC-first” approach aims to mitigate legal risks by integrating wallets and cryptocurrency payment systems. In this context, the regulatory design aims to reduce friction between onboarding and the use of the native token.

• Objective: attract retail users and expand the use cases of the native token.
• Integration: connection between prediction markets, digital wallets, and crypto checkout.
• Compliance: traceable regulatory path under the supervision of the CFTC.

Market Signals and Risks to Monitor

The outlook for the rest of 2025 appears balanced. Some banking desks are revising targets upwards in case of monetary easing, while on-chain analysis highlights high levels of Bitcoin supply on exchanges and metrics like the MVRV on Ethereum in potential profit-taking territory.

Social sentiment, when reaching extreme levels, has historically tended to precede local corrections. An interesting aspect is the divergence between flows on regulated products and spot activity on retail exchanges sentiment and on-chain.

Main Risks

• Regulation: uncertain outcomes on stablecoin, prediction markets, and listings in different jurisdictions.
• Market: high volatility and liquidity cycles influenced by the Fed’s moves.
• Reputation: potential polarization stemming from the association with Trump Media.
• Operational: complexity in technical integration and scalability of new services, with execution risks.

Quotation Scenarios: Options on the Table

The potential listing of Crypto.com will depend on solid accounts, favorable market windows, and regulatory approvals. Among the discussed hypotheses are:

• Traditional IPO: greater transparency on accounts and governance, but subject to the variability of the market window.
• Merger with SPAC: speed of execution, although at the cost of potential dilutions and additional scrutiny.
• Multiple tranche or dual track: options that offer flexibility on valuation and timing, but with greater legal and disclosure complexities.

Whichever path is chosen, the listing would have a significant impact on visibility, access to new sources of capital, and the development of products, such as potential investment vehicles linked to the Cronos token.

It must be said that building credible governance will be a decisive element for the market.

Note

• The data related to accounting standards (IFRS/GAAP) for 2025 are not specified in the release and will need to be confirmed in the prospectus.
• The price reaction of Cronos after the announcement requires verification on independent data providers and intraday updates on market feeds.
• Details regarding contacts with investment banks and the scope of any potential offer remain in development; any prospectuses or official filings will be key elements for confirmation.