Crypto.com is facing criticism from the crypto community after reissuing 70 billion Cronos tokens burned in 2021. Critics said the move undermines the principles of decentralization and transparency in the cryptocurrency space.
The controversy erupted on March 25 after onchain investigator ZachXBT posted on X, accusing Crypto.com of reissuing Cronos (CRO) tokens that had been declared permanently removed from circulation. “CRO is no different from a scam,” ZachXBT said, claiming the reissued amount represented 70% of the total supply and contradicted the community’s expectations.
“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,” he added.
The reissuance followed news that Trump Media had signed a non-binding agreement with Crypto.com to launch US crypto exchange-traded