Crypto.com cancels multibillion-dollar DAT plan and cuts Visa card rewards as CRO falls below $0.05
AI Market Summary
Crypto.com's cancellation of a multibillion-dollar CRO treasury-related deal, termination of an ETF servicing partnership, and further cuts to card and staking rewards signal weakening growth ambitions and tighter unit economics. Executive departures and recent operational disruptions add governance and reliability concerns. The combination pressures CRO via reduced incentive demand and heightened counterparty risk perceptions, with potential spillovers to exchange-related tokens and CeFi sentiment.
Impact level
● Medium
Affected assets
CRO/USDT-1.26%
AI Insight · CRO/USDTAI Insight
▼ Bearish
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Crypto.com has scrapped its multibillion-dollar digital asset treasury (DAT) plan and is reducing rewards for Visa cardholders. Ruby card cashback will drop from 2% to 1.5% with the monthly spending cap cut from $1,250 to $750, while Icy White card rewards fall from an unlimited 4% to 3.5% capped at $3,000. The company has also seen several executive departures and ended a separate arrangement to service ETFs for Yorkville America. Following the changes, CRO fell below $0.05 and is down 70% over the past year.
