In a recent turn of events, on-chain investigator ZachXBT expressed skepticism regarding the proposed collaboration between Trump Media Group and Crypto.com aimed at launching an Exchange-Traded Fund (ETF). Responding to a tweet from Crypto.com CEO Kris, ZachXBT criticized the platform’s recent decision to alter the status of CRO tokens, emphasizing that the reissuance of 70 billion tokens, previously labeled as ‘permanently burned’, undermined community trust. This move accounted for a staggering 70% of the total token supply and raised eyebrows over the centralization of control within the network. Additionally, ZachXBT questioned the rationale behind Trump Media Group’s choice to partner with Crypto.com instead of more established exchanges like Coinbase, Kraken, or Gemini. Following the exchange of views, Kris blocked ZachXBT on social media, prompting a reflection on the situation’s implications within the crypto community.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024