Around mid-December, the price of crypto Cronos (CRO) had fallen to annual lows, below $0.056.
Cronos went into distress due to the failure of FTX, because CRO is Crypto.com’s cryptocurrency.
Fears about Crypto.com and its crypto Cronos (CRO)
FTX was one of the largest crypto exchanges in the world. It was centralized and regulated, so many believed it was solid and well-run.
Instead, with its implosion it turned out that it wasn’t at all: it was very poorly managed and had very weak foundations. The fact that it was based in the Bahamas for many meant that the authorities’ controls over its management were insufficient and too shallow, effectively allowing mismanagement that is hardly allowed in other countries.
After its collapse, various speculations began circulating shortly before mid-November that the regulated crypto exchange Crypto.com might also have the same problems.
Indeed, during the days when FTX’s FTT token collapsed, CRO also lost 33%, falling from $0
We współpracy z: https://en.cryptonomist.ch/2022/12/29/crypto-cronos-recovered-slightly/
