Crypto.com’s blockchain Cronos is proposing to reintroduce 70 billion CRO tokens that were previously burned in 2021, a move that would restore the total supply to 100 billion CRO.
This decision comes as part of a larger strategy that involves creating a “strategic reserve wallet” for these tokens, with the aim of gradually releasing them over five years.
The decision to revive the burned tokens is linked to Crypto.com’s ambition to establish an exchange-traded fund (ETF) for CRO. This move is expected to capitalize on the growing institutional interest in the crypto space.
The original burn in 2021 was a significant event in the industry, reducing the CRO supply from 100 billion to 30 billion tokens in order to promote decentralization and support Cronos’ mainnet development.
However, this proposal has faced strong backlash within the community. Many critics argue that such a move could undermine the progress made with decentralization, calling it a backward step for the project.
The CRO token has evolved significantly since its inception as Monaco Coin (MCO), which was initially tied to the MCO Visa Card. After rebranding in 2021, it became the native token of the Cronos Chain, a blockchain built using the Cosmos SDK.
In addition to its mainnet launch, Cronos developers are also working on a zkEVM Layer 2 solution, which will allow integration with Ethereum, further expanding its reach in the crypto ecosystem.
CME Group, the world’s largest derivatives marketplace, is expanding its digital asset lineup with the launch of XRP futures, set to go live on May 19, pending regulatory approval.
As global sanctions continue to isolate Russia from traditional financial networks, the country’s top financial bodies — the Central Bank and the Ministry of Finance — are preparing to launch a government-backed cryptocurrency exchange.
Following the April 14 exploit that disrupted operations, KiloEx has revealed a compensation plan for impacted users. The plan covers three core groups: traders, Hybrid Vault stakers, and VIP users.
As Bitcoin (BTC) regains stability and altcoins begin to show signs of life, investor optimism is once again on the rise.