Crypto.com under fire for token reissue, Trump deal
The Most Important Points at a Glance
Crypto.com is at the center of serious allegations. Crypto analyst ZachXBT accuses the platform of reissuing 70 billion Cronos (CRO) tokens, despite these supposedly being permanently burned in 2021. At the same time, a partnership with Trump Media led to a 35% price increase. The crypto community is reacting critically, while Crypto.com has yet to provide a comprehensive statement.
Allegations Against Crypto.com
Blockchain analyst ZachXBT accuses Crypto.com of restoring 70 billion CRO tokens. These tokens were allegedly permanently destroyed in 2021 to stabilize the cryptocurrency’s value. The reissuance of these tokens could be considered market manipulation, as Crypto.com still controls a significant portion of the supply.
Partnership with Trump Media and Price Surge
In parallel with these allegations, Crypto.com announced a partnership with Trump Media. The goal is to develop ETFs (Exchange Traded Funds) linked to Cronos (CRO), Bitcoin (BTC), and other assets. This news led to a short-term price increase of 35%. However, the agreement is not binding and requires approval from the U.S. Securities and Exchange Commission (SEC).
Reactions from the Crypto Community
The crypto community is divided. Critics argue that Trump Media would have been better off partnering with established platforms like Coinbase or Kraken. Some voices accuse Crypto.com CEO Kris Marszalek of using his influence to push the deal forward. On social media, the situation is accompanied by ironic comments comparing Crypto.com to fraudulent projects.
Impact on the Market
Despite the allegations, market reactions remain mixed. The CRO price has risen over 25% in the past 24 hours and is currently trading at $0.103. The long-term impact on trust in Crypto.com and the further price development remain to be seen.
Our Assessment
The allegations against Crypto.com are serious. If it is confirmed that the tokens were indeed restored, this could permanently damage trust in the platform. At the same time, the price surge shows that short-term market movements are not always rational. Investors should closely monitor developments and consider potential regulatory consequences.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 2 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 2 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 2 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 2 minutes
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency