CRO Cronos Shipments to Increase 200% After Last-Minute Management Change

Cryptocurrency governance is often criticized for being only formally community-driven: large token holders can easily influence any initiatives and changes they see fit.

Shaurya Malwa | Edited by Oliver Knight 18 Mar 2025 10:40 UTC

Key points:

• A small group of large token holders changed the outcome of the governance vote by moving 3.2 billion tokens just before the vote concluded.
• Over the past 24 hours, the price of CRO has fallen by 8.5%.
• The total supply of CRO will now increase from 30 billion to 100 billion.

A controversial project in the Cronos ecosystem ended on Monday evening when the community voted to increase the token supply from 30 billion CRO to 100 billion CRO over a 10-year distribution.

The decision came after weeks of community outcry against the change, but several vocal CRO supporters (or influential users with significant token holdings) stepped forward in the final hours before the vote ended to support the move.

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Cronos, which is affiliated with cryptocurrency exchange Crypto.com, earlier this month proposed reissuing 70 billion CRO tokens that were burned in 2021 in an effort to restore the original supply of 100 billion tokens for a “strategic reserve.”

The planned $5 billion project (at current CRO prices $0.08) was aimed at strengthening the cryptocurrency’s position in the US, funding the growth of the ecosystem, and launching a CRO ETF. The community reaction was harsh when the vote first took place, with 86% voting against it in the first few days.

However, cryptocurrency governance is notorious for being community-driven in name only: large token holders can easily dominate any proposals and changes they see fit – even if voting is theoretically done transparently “within the community”.

The proposal, which ran from March 2 to March 16, failed to reach the 33.4% quorum needed to pass. On Monday at 14:00 UTC, the movement of 3.35 billion CRO votes changed the situation, reaching a quorum and locking in the deal. The final results were 61.18% in favor, 17.61% against, 20.11% abstaining, and 0.11% vetoing.

Two influential network validators, Starship and Falcon Heavy, backed the plan on March 10, with 77.97% voting against and 8.47% abstaining at the time. On Monday, Electron, Antares, and Minotaur IV

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