Community Slams Cripto.com CEO over 70b Cro Re-Issuing

The main criptocurrenci Cripto.com filed fire after allegedly manipulated voting leading to mass revercanic reverphal on Cripto.com Cronos Blocchain.

Cripto.com CEO Kris Marszalek set aside 19. Marta to point out The financial and regulatory stability of the company followed the controversy compared to 70 billion cronos (Insert) Token re-issuing.

Essentially canceled 70 billion cro Token is burning It was announced in 2021. years, vote on returning token, he launched an indignation from the community, and many commentators criticize the Executive Director for not resolving problems in its new thread on X.

“So you’ve earned a $ 1 billion profit, but it was needed for more Minije 70 billion Cro instead of using these funds to buy any of the markets and helped your basic community stay positive,” a commenter wrote.

“The biggest token is burning in history”

Discovered In February 2021. In the current deleted spot on CRIPTO.com, 70 billion CRO Token Burn called “the biggest token burning in history” with the aim of “completely decentralize the network” in the boot Cro Mainnet.

“They aligned with our belief, and with black chain launches just around the corner, we completely decentralize the chain network,” said post blog, announcing an immediate combustion of 59.6 billion tokens.

After directory 59.6 billion Cro Burn, 0.4 billion remaining tokens was aimed at monthly burns, while another 5.9 billion CRO sent to blocks the awards, and 0.9 billion CRO was assigned to CRAND B for the development of a chain ecosystem.

Why reverse the burn?

In four years after burns, Cronos blog post 2. Marta announced Voting on creating a strategic reservation Cronos by reversing a 2021 token. Years.

“2021. year, 70 billion CRO was burned in one of the most significant transactions in history. An equal number of tokens will be re-issued at Crones Founter wallet for Escrow, bringing a total offer at the initial offer of 100 billion CRO”, the initial offer was announced.

Launched 3. Marta, Voting received lots of negative feedback from community on social media, with many posters typing that the transmission of CRO was “opposite to what this community wants.”

Related: Binance announces a community voting mechanism for a token advertisement

“I hope people vote against it, this is a terrible idea,” one commentator said.

Last minute voters approved re-issuance

Despite notable backlash, the results of the votes came in favor of Cronos strategic reserves, encourage controversy and speculation due to alleged manipulation of votes.

“Total manipulation at the last minute and voting that, CDC (CRIPTO DOT COM) is as centralized as a block, and should not be the right management when 70% of the voting power in CDC” wrote.

According to the Nuptial sources Laura Shin, Cripto.com allegedly control 70-80% of the total voice power, basically removes the need for any management voting.

After a massive return circuit, Cripto.com announced Ask-Me-Ieli An event coming 25. Marta, with CRO Token burns obviously becomes the main question on the agenda.

“We look forward to touching our community on Tuesday,” CRIPTO.COM CEO said In post 19. March on X, adding the Hashtag “MakeCruratagain”.

Cointelegraph approached Cripto.com for comment on combustion reversing, but did not receive a response at the time of publication.

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