Cronos Is Scam Allegations Appear After Trump CryptoCom Deal, Will CRO Price Crash?

CRO the native cryptocurrency of Cronos chain surged a large 35% in hours after the deal between Trump Media and Crypto.com on Monday. However, allegations that CRO is a rip-off have been rising with greater than 70 billion tokens minted only a week earlier than this partnership was sealed. While the CRO worth has gained large momentum, prime gamers have warned retailed from making any contemporary bets.

ZachXBT Exposes Cronos Over Misleading Practices

Blockchain sleuth ZachXBT has known as out Crypto.com, the developer of Cronos Chain, accusing it of reversing the 2021 CRO token burn and deceptive its group. ZachXBT alleged that Crypto.com not too long ago reissued 70 billion CRO tokens that have been beforehand burned “forever,” representing 70% of the whole provide. In a message on the X platform, he wrote:

“Originally, the total CRO supply was 100 billion. In 2021, 70 billion of that supply was burned permanently. Everyone who invested since then believed the max supply was 30 billion. Now, just weeks ago, they reissued the 70 billion CRO.”

This sudden surge in provide for the Cronos native taken, forward of Crypto.com hanging a take care of Trump Media, has raised doubts among the many group. “CRO is no different from a scam,” mentioned ZachXBT.

ZachXBT additionally questioned Crypto.com’s skill to safe partnerships given the controversy. “Unsure why Truth chose your exchange over Coinbase, Kraken, or Gemini after this move,” he mentioned, referencing a latest deal.

Trump Media and Crypto.com Partnership

Trump Media, US President Donald Trump’s agency entered a partnership with Crypto.com on Monday to launch a sequence of ETFs and ETP merchandise for ‘Made in America’ digital belongings. The merchandise will characteristic digital belongings, together with Bitcoin (BTC) and Crypto.com Coin (CRO), alongside different securities. The ETFs and ETPs are slated for launch later this yr, pending regulatory approval.

Responding to the event, Crypto.Com CEO Kris Marszalek acknowledged: “Proud to partner with Donald Trump’s Truth Social on a series of ETFs, including the world’s first ETF with CRO”.

Well, this announcement was sufficient to ship CRP worth larger by 35%, taking it previous 10 cents, with 24-hour buying and selling volumes skyrocketing 1300% to $278 million.

Will CRO Price See A Pump and Dump?

Although the Cronos native cryptocurrency CRO noticed an instantaneous pump in its worth, market analysts are asking traders to take care of warning amid the latest provide pump. Also, the event of a CRO ETF will nonetheless take time to materialize and the preliminary euphoria might fade within the coming days.

The CRO price prediction indicator means that the altcoin might flirt round 10 cents for many of 2025. However, there have been already requires a rally to $1 amid this latest Trump partnership. Donald Trump’s crypto involvement has typically led to sharp worth motion, with TRUMP meme coin seeing renewed curiosity not too long ago.

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Bhushan Akolkar

Bhushan is a FinTech fanatic with a eager understanding of economic markets. His curiosity in economics and finance has led him to deal with rising Blockchain know-how and cryptocurrency markets. He is dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and sometimes explores his culinary expertise.

Disclaimer: The offered content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.