Crypto.com keeps rewriting terms for CRO holders
Crypto.com will slash annual rewards on new CRO lockups on Thursday by 25% or more. The disappointment for holders of Crypto.com’s proprietary token is merely the latest chapter in a years-long odyssey of roadmap changes, altered promotions, and other reneged forecasts by Crypto.com and its predecessor, Monaco. On September 10, lockup rewards for “Obsidian/Private” tier CRO owners are dropping to 6% from 9%, 5% from 8.5% for the “Icy/Rose/Private” tier, and 3% from 4% for “Jade/Indigo/Pro.” The fresh cut continues a disappointing series of news with a voluminous back catalog. Throughout its history, CRO leaders have reversed prior guidance, reduced payouts, and penalized retail holders for the benefit of institutional partners. Indeed, retail investors had to suffer through triple-digit supply inflation of their token to help with “Making America the world capital of crypto.” For context, the price of CRO has declined 75...