Crypto.com’s alleged re-minting scandal comes as it partners with Trump Media to launch crypto ETFs under the Truth.Fi brand, prominently featuring CRO.
Questions have also been raised about Crypto.com’s ties to Binance and comparisons to the collapsed FTX exchange, given its dominance over CRO.
Crypto.com is accused of fraud after on-chain researcher ZachXBT accused the firm of quietly re-minting 70 billion CRO tokens that were earlier burned. The allegations have left investors in fear as the re-minting goes against the 2021 announcement of a token burn.
Crypto.com’s Token Burn Saga Revealed
The scandal comes on the heels of Crypto.com’s recent deal with Trump Media, a media and tech firm owned by U.S. President Donald Trump. The deal will see the launch of crypto ETFs under the Truth.Fi brand with CRO figuring prominently alongside Bitcoin and conventional securities. Yet the scheme remains awaiting regulatory approval.
In 2021, Crypto.com burned 70% of CRO’s total sup
