Crypto.com dey face fraud accusation for reissuing 70 billion burned CRO tokens
Blockchain investigator ZachXBT don accuse Crypto.com of re-issuing 70 billion CRO tokens wey dem suppose don burn for 2021, wey spark allegation of say dem dey do 'borderline fraud'. This re-issuance dey against wetin Crypto.com talk before say dem go reduce the supply by 70%, wey dem bin plan to use decentralize the Cronos blockchain. The move dey happen at the same time with partnership between Crypto.com and Trump Media to launch U.S.-based ETFs, wey dey make people dey look Crypto.com motives more closely. The recent things wey dey happen don raise concerns about the integrity of blockchain transactions wey no dey change and the way dem dey put voting power for one place. Even though the token burn bin make CRO value go up at first, the token don drop well well, e dey trade at $0.10 now. The governance vote to reissue fit be say Crypto.com bin influence am because dem get strong hand for voting rights, wey show how trust and transparency dey important for crypto sector.
Bearish
Di re-issuance of 70 billion CRO tokens, wey dey go against wetin dem bin dey do before wey dey reduce inflation, dey spoil trust and transparency for market. Dis action dey bring up worries about say e fit cause devaluation because supply don increase, and di way dem see am say voting power dey centralise fit make investors no trust am again. All dis things fit push CRO price down and cause bad vibes for di whole crypto market, wey dey show say market go dey bearish for short and long term.