Other-News
By James Thorp
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Cardholders Take the Hit. The reward cuts are real and they're coming fast. Starting October 1, the cashback rate on the…
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Executives Out, Legal Fights In. The executive departures are piling up. Chief Legal Officer Nick Lundgren resigned in April and…
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CRO Token Keeps Sliding. The CRO token is sitting near $0.047. That's down about 48% this year alone, and it's roughly 95%…
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Crypto.com pulled the plug on its multi-billion dollar digital asset treasury stock plan over the weekend, blaming rough market conditions.
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The DAT stock — short for digital asset treasury — was supposed to be the largest publicly traded CRO treasury company in the world.
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And it doesn't stop there. Staking rewards for CRO tokens are getting cut too, effective September 10. The Pro lock-up tier falls from 4% to 3%.
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The pattern here isn't new. Back in May 2022, Crypto.com slashed CRO card rewards suddenly and faced significant user backlash, eventually walking back part of the cut.
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Those departures follow a March decision to cut the workforce by 12%, which worked out to around 180 jobs.
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More context: Bitcoin Hovers Near $65K With $854M ETF Inflows as CPI Looms
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The derivatives arm is in a legal fight with Washington state's attorney general over whether Crypto.com's sports prediction markets violate state gambling laws.
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On August 2, the platform went down. Crypto deposits and withdrawals were suspended temporarily across all networks — lasted a few hours.
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The CRO token is sitting near $0.047. That's down about 48% this year alone, and it's roughly 95% below its peak from November 2021. The drop is steep by any measure.
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The broader crypto market has had its own turbulence, so CRO isn't alone in underperforming from 2021 highs.
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See also: MicroStrategy Sells 1,690 Bitcoin as USD Cash Pile Reaches $4.65 Billion
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Crypto.com hasn't outlined what comes next strategically. No replacement plan for the DAT stock has been announced.
The Currency Analytics
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