According to Cointelegraph on the 25th (local time), on-chain investigator ZachXBT announced through X that Crypto.com had been permanently burned.
ZachXBT revealed that it had reissued the CRO token. "A week ago, the Crypto.com team reissued 70 billion CRO tokens that they had announced they would be permanently burned in 2021," the company said.
This represents 70% of the total supply," he said. "This reissue is a decision that goes against the will of the community, as Crypto.com controls the vast majority of the supply.
"CRO is nothing but a scam," he said.
Media Enters Into Non-Binding Agreement with Crypto.com to Launch U.S. Crypto Exchange-Traded Fund (ETF)
The ETF was launched in 2019 by Foris Capital, which acts as Crypto.com's US broker-dealer.
It is scheduled to be launched through the US. Jack XBT said, "Why Truth is the Cryptocurrency exchange instead of exchanges like Coinbase, Kraken, and Gemini.
"I don't understand why they decided to cooperate with .com," he said. A sudden increase in token supply would dilute the value of existing tokens, causing the price to fall due to the principle of supply and demand.
In response, Crypto.com CEO Kris Marszalek said the decision was a step toward investing in a new political climate in the United States.
"Kronos and Crypto.com have been operating separately for several years," Marszalek said during an AMA session at X.
"The token burn in Q1 2021 was a defensive measure. However, we now have strong support from the new government and the crackdown on cryptocurrencies has ended. We are now actively investing," he said.
"It's time for that," he said. He went on to argue that "this is the direction the community wants to go, and we have to approach it from a macro perspective, not just think about pennies."
2025/03/26 14:22 KST
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