Crypto.com CEO’s CRO Token Shenanigans: Is a Crash Imminent? 🤔💥

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Well, well, well! It seems our friends at Crypto.com are in hot water, and not the kind you want to soak in! 🚿 After allegedly pulling a fast one to get the green light for re-issuing a whopping 70 billion Cronos (CRO) tokens, the critics are sharpening their pitchforks! 🔥 This move reverses a token burn from 2021 that was once hailed as the biggest thing since sliced bread! 🍞

On March 19, the big cheese himself, Kris Marszalek, strutted in with a shiny report claiming the exchange raked in $1.5 billion in revenue for 2024! 💰 With a gross profit of $1 billion and a net profit of $300 million, you’d think he’d have time to address the CRO re-issuance. But nope! He just danced around it like a cat on a hot tin roof! 🐱🔥

generated $1.5b in revenue in 2024 and we currently have over 140m users on the platform. The business is run in a very efficient way, after salaries and other opex, we have about $1b in gross profit to reinvest in the growth of the platform. Of that, user…

— Kris | Crypto.com (@kris) March 19, 2025

Now, many folks in the crypto community are scratching their heads, wondering why Crypto.com didn’t just use its profits to buy back tokens instead of minting billions of new CRO! Talk about diluting the value! It’s like adding water to fine wine! 🍷💧

Remember back in 2021 when Crypto.com announced the grand burn of 70 billion CRO tokens? They called it the largest burn event in history! 🎉 It was supposed to make the token scarce and valuable, but now? It’s like they’re throwing that commitment out the window! 🚪💨

Questions on Crypto.Com’s Transparency

Independent validators were not amused and largely opposed the token re-issuance proposal. But guess what? Three validators linked to Crypto.com—Electron, Antares, and Minotaur IV—held a whopping 72% of the voting power! Talk about a stacked deck! 🎲

I Hope that people vote against this, this is a terrible idea

— Cryptowizard ₿ ⚡ (@cryptowizardBTC) March 3, 2025

As a result, many community members are crying foul, claiming Crypto.com has more influence over the network than a cat has over a laser pointer! 🐱🔦 Popular YouTuber Jesus Martinez even called it “the most disgusting CRO move of all time.” Ouch! That’s gotta sting! 😬

This is the most disgusting $CRO move of all time! I’m ashamed to be an icy white card holder

— Jesus Martinez (@JesusMartinezEZ) March 18, 2025

In response to the uproar, Crypto.com has decided to hold an ask-me-anything (AMA) event on March 25. You can bet the token burn controversy will be the hot topic! 🔥

CRO Struggles

As of now, CRO is trading at around $0.079, down 8% since the start of the week. That’s a staggering 92% drop from its peak of $0.9698 back in November 2021! Talk about a rollercoaster ride! 🎢

On the daily price chart, CRO is hanging around the middle Bollinger Band (SMA), indicating it’s as volatile as a cat on a hot tin roof! The upper band at $0.0886 is immediate resistance, while the lower band at $0.0725 is acting like a safety net. 🕸️

If CRO decides to take a dive towards the lower band, traders might see it plummet to the $0.06 zone. But if it breaks above the $0.0886 resistance, we could be

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2025-03-20 00:01