Crypto.com has made a decision overnight that has caused major controversy in the community. They have decided to swap their MCO tokens, which were the tokens that were needed to be bought and staked to acquire their debit cards, to CRO tokens which is associated with their Crypto pay network. The decision behind doing this is not so clear.
A large Reddit thread has been made as an open letter to the CEO of Crypto.com, Kris Marszalek, which heavily criticises the decision and the rate at which MCO will be swapped for CRO tokens. Video evidence of Kris stating that MCO tokens will never be swapped for CRO tokens has emerged on Reddit but it was removed by moderators, supposedly for being too controversial or for providing evidence that makes the CEO of the company look like a hypocrite.
The video can be seen below.
This move seems to have made the community lose a lot of respect and trust for the company. It is clear from the Reddit and Telegram communities for Crypto.com that the people are not happy with the situation and are not happy that Kris has gone back on his word in the past.
It will be interesting to see how this situation develops, as Crypto.com is a significant player in the crypto world now.