Aftermath of the voting process for the re-issuance of 70B CRO tokens

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Aftermath of the voting process for the re-issuance of 70B CRO tokens

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Community members strongly criticized Crypto.com's attempt to burn 50 million CRO tokens out of the re-minted 70B CRO tokens, arguing that it was a symbolic gesture that did not meaningfully counteract the inflationary impact of the 70 billion CRO reissuance.
A day after the vote for re-minting 70B CRO tokens was approved, Crypto.com proposed burning 50 million CRO tokens, which represents 0.07% of the newly minted supply.
The approval of the vote to re-issue 70B CRO tokens enables the re-issuance of the tokens by Crypto.com, set to take effect on March 18, 2025.
The 70 billion CRO tokens approved for re-issuance in a March 2025 vote will vest gradually over five years and be allocated for strategic initiatives, including the potential creation of a CRO exchange-traded fund (ETF) and other blockchain development projects.
The approval of 70 billion CRO tokens re-issuance, secured by a sudden influx of 3.35 billion CRO votes on the final day, was met with outrage. Many CRO holders accused Crypto.com of leveraging its control over validators to force the proposal through, eroding trust in the platform and setting a dangerous precedent for future governance votes.

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Crypto.com reissues 70 billion CRO tokens despite strong community opposition

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