Crypto.com Faces Criticism for 70-Billion-CRO Token Reissuance

Highlights:

• ZachXBT has accused Crypto.com of reissuing previously burned tokens.
• The investigation platform called CRO a scam, adding that it went against the initial community members’ agreement.
• The allegations surfaced a few hours after Crypto.com sealed a partnership deal with Trump’s Truth Social platform.

Blockchain investigation firm ZachXBT has accused Singapore-based crypto exchange and Cronos (CRO) developer Crypto.com of manipulating token supplies. In a March 25 tweet, the investigation platform called out Crypto.com, alleging that the exchange reissued 70 billion CRO tokens that were previously burned in 2021.

ZachXBT tweeted:

“Your team just re-issued 70B CRO a week ago that was previously burned “forever” in 2021 (70% total supply) and went against the community wishes as you control the majority of the supply.”

The allegations surfaced hours after Kris, Crypto.com’s Chief Executive Officer (CEO), announced that the trading platform has partnered with Donald Trump’s Truth Social platform. Renowned Fox Business journalist Eleanor Terrett also reported on the collaboration in more detail.

CRO is no different from a scam

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.

Unsure why Truth would chose a partnership with your exchange… pic.twitter.com/XNlusLDdZc

— ZachXBT (@zachxbt) March 25, 2025

Details of the Strategic Partnership between Crypto.com and Trump Social

According to Terrett, the partnership aims to launch exchange-traded funds (ETFs) and products (ETPs) featuring digital assets and securities with a made-in-American focus. These products will span different industries, including energy.

Terrett mentioned that the products will include Bitcoin (BTC), CRO, and other cryptocurrencies. Reports also revealed that they will likely launch this year, pending regulatory approval. They will also be widely accessible across several regions, including the United States, Europe, and Asia.

NEW: @realDonaldTrump’s media company Trump Media, parent company of Truth Social, has announced a partnership with @cryptocom to launch a series of ETFs and ETPs “comprised of digital assets as well as securities with a Made in America focus spanning diverse industries such as… pic.twitter.com/Bxkfw6w3Ti

— Eleanor Terrett (@EleanorTerrett) March 24, 2025

In its X post, ZachXBT criticized Truth Social for choosing Crypto.com over exchanges like Coinbase, Kraken, and Gemini. A follow-up tweet accused Crypto.com of misleading investors who purchased CRO tokens, believing its maximum supply was 30 billion. “Everyone between that time and now bought expecting 30B CRO would be max supply. Now, 1-2 weeks ago, they re-issued the 70B CRO burned permanently,” ZachXBT added.

Market Participants React as Crypto.com Faces Criticism for Token Reissuance

As expected, ZachXBT’s tweet sparked heated reactions among market participants on X. Many comments defended the exchange’s actions with facts. An X user argued that CRO isn’t a scam. He, however, acknowledged that the decision to re-mint the 70 billion CRO tokens happened in a centralized manner, which wasn’t ideal.

Another user said Crypto.com reissued the tokens because people voted for “UNburn.” He added that the exchange’s decision was a smart move for CRO in the long run. Meanwhile, Kris, Crypto.com’s CEO, blocked ZachXBT, as shown in a screenshot the investigator shared.

CRO’s Records Over 20% Jump Supply Manipulation Allegations

With ZachXBT’s allegations, many expected CRO’s price to experience significant downward pressure. However, the reverse seems to be the case. At the time of writing, Cronos is up 25.1% in the past 24 hours, trading at about $0.1028. In other extended period price change data, the token has gained 29.5% over the past week and 21.8% this month.

In the past 24 hours, CRO’s price extremes have oscillated between $0.08132 and $0.1146, highlighting a marked rebound in the short interval. On CoinGecko, it ranks as the 57th most valuable cryptocurrency with a $2.3 billion market capitalization and a $2.5 billion fully diluted valuation. CRO’s 24-hour trading volume is up 1,623.23%, boasting a $366.01 million valuation.