Mormon Doctrine, pg. 173; “Those who gain exaltation in the highest heaven of the celestial world shall wear crowns. Perhaps literal crowns may be worn on occasion — emblematic of their victory over the world and signifying that they rule and reign as kings and queens in the eternal house of Israel. But at all times they will be “crowned with honor, and glory, and immortality, and eternal life.” (D. & C. 75:5.)…In the gospel sense, a crown is the sign and symbol of eternal exaltation and dominion, of godhood in the kingdom of God. Our Lord has been seen in vision wearing “a golden crown” (Rev. 14:14; 6:2; 19:12), and those surrounding the throne of Deity have been seen similarly identified. (Rev. 4:4, 10.)…”

Revelation 4:10-11; “The four and twenty elders fall down before him that sat on the throne, and worship him that liveth for ever and ever, and cast their crowns before the throne, saying, 11 Thou art worthy, O Lord, to receive glory and honour and power: for thou hast created all things, and for thy pleasure they are and were created.”

There is and always will be only one King over Israel, Christ Jesus.  The crowns will be thrown back to Him signifying the devotion to our King.