Crypto.com Faces Backlash Over CRO Token Reissuance

Crypto.com is under fire for reissuing 70 billion Cronos (CRO) tokens that were previously declared burned in 2021. This move has raised concerns about transparency, as the original burn was meant to reduce supply and boost investor confidence.

Blockchain investigator ZachXBT called out the exchange, noting that Crypto.com now controls the majority of the supply, contradicting past statements. The controversy comes amid Crypto.com's partnership with Trump Media to launch exchange-traded funds (ETFs), further fueling skepticism.

CEO Kris Marszalek defended the decision, citing investment growth, but trust in the platform has been shaken. Many investors now demand greater transparency and accountability in the crypto space.