2025-03-25
Crypto.com’s token, Cronos (CRO), is
under fire. Just before a big deal with Trump Media, Crypto.com reportedly
created 70 billion CRO tokens. This has led to accusations that CRO could be a
scam.
CRO trading volumes jumped 1300%,
hitting $278 million in 24 hours after the Trump deal. The price rose 35% in
just a few hours. But analysts are warning investors to be careful.
ZachXBT Calls Out Crypto.com
Blockchain investigator ZachXBT said
Crypto.com is misleading its users.
In 2021, the company said it burned 70 billion CRO tokens permanently, leaving a max supply of 30
billion.
But recently, they reissued those same
70 billion tokens, which now makes up 70% of the total supply.
ZachXBT called CRO “no different from a
scam” and questioned why Trump Media chose Crypto.com over bigger exchanges
like Coinbase or Kraken.
Trump Media and Crypto.com Deal
Trump Media partnered with Crypto.com to launch new crypto investment products (ETFs and ETPs) focused on American-made digital assets. These will include Bitcoin and CRO, but they still need regulatory approval and won’t launch right away.
Crypto.com’s CEO said he’s proud to
work with Trump’s Truth Social on this project. The news helped push CRO's
price above 10 cents.
Is This a Pump-and-Dump?
Some worry that the CRO price jump may
not last. The huge new supply of tokens, combined with hype around the Trump
deal, could cause a sharp drop later. Analysts say CRO may hover around 10
cents through 2025, though some fans are hoping for a rally to $1.
In short: CRO is hot right now, but
many are urging caution due to the sudden increase in supply and serious
questions about Crypto.com’s actions.
CRO is currently 35th
largest crypto by market cap. It has a market cap of $2.88 billion.
