ZachXBT Accuses Crypto.com of CRO Token Supply Trickery

In a March 25 post on X, ZachXBT said that the exchange reissued a large part of the total CRO supply that had been marked as permanently destroyed. This reissue amounts to 70% of all CRO tokens and was done without informing the community.

ZachXBT also questioned why any company would partner with Crypto.com after this action, especially when other exchanges like Coinbase $2.11B or Kraken $421.37M are available.

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He added that the company holds most of the CRO supply and acted in a way that ignored earlier promises. The decision has also raised concerns that increasing the number of tokens in circulation so suddenly could lower the value of each token due to basic supply and demand effects.

Crypto.com CEO Kris Marszalek said during a live Q&A on X that the token burn in 2021 was a defensive step taken during a different time. He explained the environment in the US has changed, and stronger government support means the company can focus on a larger growth plan.

Marszalek claimed that the reissue was meant to support these plans and that it reflects what the community truly wants.

Meanwhile, on March 24, Trump Media announced a plan to partner with Crypto.com. What is the goal of the collaboration? Read the full story.