Mar 26, 2025
Ibiam Wayas
Popular on-chain sleuth ZachXBT has called out Crypto.com for secretly reissuing 70 billion Cronos cryptos that were supposed to have been permanently removed from circulation.
“CRO is no different from a scam,” ZachXBT posted on X (formerly Twitter) on Tuesday.
“Your team just reissued 70B CRO a week ago that was previously burned ‘forever’ in 2021 (70% total supply) and went against the community wishes as you control majority of the supply,” ZachXBT added.
Meanwhile, Crypto.com CEO Kris Marszalek said the decision to reissue the Cronos cryptos was a defensive move.
“The original token burn from Q1 2021 was a defensive move. At that point in time, it made a lot of sense,” Marszalek said.
“Now we have strong support from the new administration, the war on crypto is over […] There’s a need for an aggressive investment to win,” Marszalek said.
All this is happening after Trump Media announced a partnership with Crypto.com to launch US crypto exchange-traded funds (ETFs), which saw Cronos crypto surge by over 20%.
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