Crypto.com faces a violent reaction from the cryptocurrency community after a controversial decision to release 70 billion chrons (CRO) that was previously burned in 2021.
On March 25, the prominent Blockchain investigator Zachxbt moved to X, accusing the exchange of betrayal of its community mainly by reviving the symbols, which represents 70 % of the total offer.
Zachbt Tweetand
“CRO is not different from the fraud.”
He said that this step is directly contradictory to the initial promise to burn “permanent”, a step taken in 2021 to reduce the supply of the distinctive symbol. This decision, as he claimed, contradicts the desires of society, which has long expressed its concerns about the central control of the CRO supplies.
Controversy It follows a major advertisement for partnership between Crypto.com and Trump Media. Both parties Explore an unnecessary agreement to launch the American funds circulating in the exchange of encryption (ETFS) through the mediator Crypto.com, Foris Capital us.
Crypto.com defends the distinctive reo
After severe criticism, CEO of Crypto.com Chris Marzalek motive She explained the re -injury and explained during March 25 that burning the first distinctive symbol in 2021 was a defensive step in an enemy organizational environment.
Marszalek stated that with the “war on encryption” now under the new American administration, Crypto.com needed to adopt a more “aggressive” approach to enhance growth.
He also went on to highlight that re -infection was necessary to support the company’s investment plans and rejected fears, arguing that this is what society wants and needs to compete on a global scale.
“The original symbolic burning of the first quarter of 2021 was a defensive step. At that time, it was a lot. We now have strong support from the new administration, the war ended on the encryption.
The discussion on central control and transparency
The move raised additional concern for governance, with a a report By unchained, which indicates that Crypto.com health controls up to 70 % of the Blockchain voting power. The report also indicated that although most of the distinguished code holders oppose the proposal, two major voters are Falcon Heavy and Starship – both of which are controlled by Crypto.com – Marsan with great influence because of their great possessions.
The proposal was passed by 62.18 % in favor, 17.61 % against, and more than 20 % abstinence. This has been suspicious of the fairness of the decision -making process.
Critics Argue This focus in force undermines decentralization and transparency, which are two main principles in the spirit of coded currency.
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