Binance News: Crypto.com Sparks Controversy with CRO Token Re-minting and Supply Increase

100B CRO Resurrected: Crypto.com’s Power Play Exposes Governance Flaws

Crypto.com has re-minted 70 billion CRO tokens, overriding community opposition and sparking accusations of manipulation. This re-minting will increase CRO’s supply by 200%, leading to concerns of price dilution and a potential drop to $0.06. An upcoming 20% token unlock further intensifies bearish sentiment, adding to fears of further price decline. The community felt that Crypto.com acted against their interest by increasing the supply despite the majority voting against it, raising concerns about transparency and potential manipulation. In 2021, the exchange initially burned 70 billion CRO tokens to reduce the circulating supply and potentially increase the value of the remaining tokens, a move that was well-received by the community at that time.

BMT Crypto Soars Nearly 30% After Binance Listing

Bubblemaps’ token, BMT crypto, has gone up by nearly 30% following its debut on Binance. Just a day prior, the token reached a new all-time high, bounding up by nearly 45% to $0.3173. At press time, BMT is trading at $0.24 with a market cap of $62 million and a fully diluted valuation of $242 million. Binance listed BMT on March 18, 2023, at 15:00 UTC, opening trading for BMT paired with USDT, USDC, BNB, FDUSD, and TRY.