🔹 Controversial Move Sparks Community Outrage
Crypto exchange Crypto.com is under fire after a last-minute surge in votes secured approval for the minting of 70 billion CRO tokens—a move that many see as a betrayal of the original burn commitment. ⚠️🔥
🔸 Struggling Vote Passes in Final Hours ⏳
For most of the voting period, the proposal failed to hit the required 33.4% quorum. However, a sudden influx of 3.35 billion Cronos votes in the final hours pushed it through with 61.18% approval. 📊✅
🔸 What’s the Justification? 🤔
Crypto.com claims that reinstating these tokens will fund Cronos ecosystem growth, including:
✅ AI-driven applications 🤖
✅ A potential CRO-based ETF 📈
✅ Support for new blockchain initiatives 🌐
The 70 billion CRO will be stored in an escrow wallet and released over a five-year vesting schedule under “strict controls.”
🔥 Community Backlash & Centralization Concerns
🔹 Critics argue this move undermines decentralization and goes against Crypto.com’s past commitment to permanently burning these tokens. ❌🔥
🔹 Independent validators largely opposed the plan, but Crypto.com’s own validators—including Starship, Falcon Heavy, Electron, Antares, and Minotaur IV—tipped the scales in its favor. ⚖️
🔹 Some CRO holders believe this sets a dangerous precedent where projects with enough validator control can push through controversial decisions. 🚨
🔹 To counter the backlash, Crypto.com introduced a 50 million CRO burn proposal on the same day voting ended. Critics called this move “a spit in the face” since it represents only 0.07% of the newly minted supply. 😡
📉 CRO Price Drops Amid Controversy
🔸 Following the vote, CRO’s price dropped over 3%, now trading at $0.08. 📉
🔸 Frustration remains high among holders, with many questioning Crypto.com’s governance model.
🚀 What’s next? The Cronos blockchain will now undergo an upgrade to officially mint the 70 billion CRO, but the debate over its long-term impact continues.
📢 Do you think this move will hurt Crypto.com’s credibility? Let us know your thoughts! 👇💬
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