Cronos (CRO) Surges 40% as Crypto.com Unveils Strategic Reserve Plans

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Crypto Drama: Cronos Takes a 40% Leap, But Will It Stick the Landing? 🎢💰

Oh, darling, gather ’round! It appears that Cronos, the darling token of the illustrious Crypto.com, has decided to take a rather audacious leap of 40% this fine Monday. This delightful surge follows the company’s rather grandiose announcement of a Cronos Strategic Reserve, which sounds terribly important, doesn’t it? One can only imagine the pomp and circumstance involved! 🎩

Now, let’s not forget the rather cheeky twist in this tale: the reserve is to be established by reversing a token burn from February 2021, which, if my calculations are correct, eliminated a staggering 70 billion CRO. Quite the magic trick, I must say! The aim? To restore the total supply to a whopping 100 billion CRO. Because why not? More is merrier, right? 🎉

Today, an ambitious proposal was published for voting on the Cronos POS governance forum. The community is invited to vote on a bold plan to restore Cronos’ Golden Age, with a massive investment allocated to support Cronos Roadmap (incl. its ETF) and America’s ambition to become…

— Cronos (@cronos_chain) March 3, 2025

With the news, CRO decided to spike over 40%, reaching a dizzying high of $0.10 before gracefully retracing to a more modest $0.084. A classic case of “look at me!” followed by a swift “oh, never mind.” 😏

Community Backs Strategic Reserve Proposal

The market response has been nothing short of enthusiastic, suggesting that the community is positively giddy about the proposed reserve. In a rather official blog post, Cronos confirmed that a dedicated wallet will be created for the reserve, operating under strict control mechanisms. Because, darling, we wouldn’t want any funny business, would we? 🕵️‍♂️

This wallet will be subject to a new five-year lockup period, extending the total vesting period to a staggering 10 years. It’s like a long-term relationship, but with tokens! The token was already under a five-year lockup since its debut on the Ethereum blockchain. Talk about commitment! 💍

According to the blog post, “vesting will be applied linearly every month and managed via a native Cosmos SDK vesting account mechanism on the Cronos POS chain (technically, vesting is applied every approximately 30.4 days or 2628000s).” Oh, the technicalities! One can hardly keep up! 📅

Cronos has opened voting on this rather thrilling proposal starting today, March 3, 2025, with the process running until March 17. At press time, a staggering 86.81% of votes are in favor of launching the strategic reserve. A resounding “yes, please!” from the community! 🎊

A World Capital of Crypto

The proposed reserve aligns splendidly with Cronos and Crypto.com’s 2025 growth strategy as the United States, in its infinite wisdom, moves toward reshaping the regulatory landscape for cryptocurrencies and related services. How very avant-garde! 🌍

With Donald Trump aiming to establish the country as the “World Capital of Crypto,” companies are rethinking their strategies to better position themselves for growth. For Crypto.com, this includes plans to launch an exchange-traded fund (ETF) designed to track its native token, CRO. A bold move, indeed! 💼

If approved, the exchange will join an expanding roster of asset issuers — such as BlackRock, Fidelity Investments, and Grayscale Investments — offering crypto-related ETFs in the US and attracting institutional investors to the space. Quite the exclusive club! 🥂

In January, Crypto.com introduced a dedicated platform for institutional investors in the US to complement its retail-focused crypto trading app. The new exchange will feature over 300 trading pairs and support advanced trading strategies for institutional firms, reinforcing the company’s expansion into Wall Street. Because who doesn’t want a piece of that pie? 🥧

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2025-03-03 19:05