- Cronos (CRO) faced scam allegations from blockchain sleuth ZachXBT.
- The Crypto.com team recently re-issued a 70 billion burnt token supply.
The Crypto.com and Trump Media partnership is circling across the mainstream media today. CEO of Crypto.com, Kris, responded to a post from Fox Business News reporter Eleanor Terrett on the partnership. Meanwhile, blockchain and crypto investigator ZachXBT made some bold accusations about the CRO token.
CRO is no different from a scam
— ZachXBT (@zachxbt) March 25, 2025
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
Blockchain sleuth took it to his X account and called CRO a scam today. What caused him to make these scam allegations is the recent 70 billion CRO token re-issuance. ZachXBT even wondered why Trump Media chose to partner with Crypto.com instead of other top crypto exchanges such as Coinbase, Gemini, Kraken, etc.
What Actually Happened to the 70 Billion CRO Token Supply?
ZachXBT even referred to an article by Unchained Crypto, which called out Crypto.com for the 70 billion CRO token re-issuance.
Crypto.com burnt the 70 billion CRO token supply in 2021, which it called the largest token burn in history. Token burn in the crypto industry often means sending tokens to an inaccessible wallet address, which means they would never come into circulation again.
However, these supposedly burnt tokens came into circulation a week ago following a Cronos announcement. The Cronos blog post published on March 3 stated,
“In 2021, 70 billion CRO tokens were burnt in one of the most significant burn transactions in history. Under today’s proposal, an equal number of tokens will be re-issued on Cronos POS into a Cronos Strategic Reserve escrow wallet, bringing the total supply back to the initial supply of 100 billion CRO.”
In another of his posts, ZachXBT further wondered about the CRO token supply manipulation. He said he had never seen anything like this from a major company.
Meanwhile, the CRO token is trading at $0.1051 with around 30% daily surge. The partnership announcement from Trump Media and Crypto.com not only pushed CRO price but also raised TMTG shares price.
However, ZachXBT’s scam allegation might impact the token’s market price. As the CRO price rally is purely because of the partnership announcement, a price correction will soon follow. This might result in a considerable price plunge of the CRO token in the next few days.
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