The Crypto.com team announced on Monday that they are removing 15 different cryptocurrencies from their earn reward program. As the bear market continues, many more will likely be removed in the coming months.
Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among those being removed, but Crypto.com added Zilliqa (ZIL), Fantom (FTM), and NEAR to the list.
Crypto.com is making some changes to the reward rates for five different stablecoins- TGBP, TAUD , TCAD & USDP ( Paxos USD). These digital assets are pegged respectively to British Pound, Australian dollar, Canadian, and US dollars. The reward rates for other cryptocurrencies like Bitcoin, Ethereum, and Polygon remain unchanged.
However, the company didn’t elaborate on why it removed those particular tokens in its announcement.
Crypto Earn changes effective 27 June 2022:
✅ $FTM, $ZIL and $NEAR are now available for Crypto Earn
✅ Select tokens no longer available
✅ Revised rewards rates for select stablecoins pic.twitter.com/cqkklGHZC3
— Crypto.com (@cryptocom) June 27, 2022
Many Twitter users expressed their disappointment at the loss of Shiba Inu and Dogecoin rewards. Others said that the exchange’s interest rates were so low they came close to traditional banks. “Not worth locking up any funds!” One Bitcoin holder said.
Many people were disappointed by the news, but others argued that Crypto.com is making positive strides toward long-term sustainability and will be around for years to come.
It’s been a tough year for Crypto.com, and the company is still feeling its effects two weeks after announcing that it laid off 5% of its staff due to this Market downturn.
Crypto.com is the pioneering payment and cryptocurrency platform. Through Crypto.com, you can buy, sell, and pay with crypto anywhere in the world.
They are redefining how people use their money with a revolutionary suite of products that let users buy, sell, and pay with crypto anywhere in the world.