Crypto.com Re-mints 70B CRO Tokens Amid Community Backlash and Price Surge

Crypto.com has reissued 70 billion Cronos tokens (CRO) that were previously burned in 2021, restoring the total token supply to its original 100 billion. The decision, passed through a governance vote that saw only 11.86% of participants in support — a group wielding 70-80% of the voting power — has led to significant community ire. Notable voices such as on-chain sleuth ZachXBT condemned the move, arguing that reintroducing burned tokens is tantamount to dilution, with one prominent critic even likening CRO to a scam. The reissued tokens have been placed in the Cronos Strategic Reserve and will be subject to a fresh 5-year lockup, adding to an existing 5-year period for CRO, resulting in a 10-year total lockup that aims to gradually release tokens via a Cosmos SDK vesting mechanism on the Cronos PoS chain. The announcement, paired with Crypto.com’s partnership with Truth Media Group—which hinted at the potential launch of a Cronos ETF—spurred a 30% rally in CRO’s price, although a partial retracement followed shortly after. Despite the short-term price surge fueled by speculative trading and the ETF partnership, the long-term implications of this re-minting remain uncertain, as concerns persist about dilution and whether the added treasury will translate into genuine network adoption.