The crypto exchange will be removing DOGE, SHIB and 13 other coins from Earn but will add ZIL, NEAR and FTM. Crypto.com announced Monday, as the bear market continues to erupt, that it will be removing 15 cryptocurrency from its Crypto earn rewards program.
FLOW, Shiba Inu(SHIB), Tezos [XTZ] and Dogecoin (“DOGE”) are some of the ones being removed. Crypto.com however added Zilliqa (“ZIL”), Fantom (FTM) and NEAR to their list.
Crypto.com is also modifying the reward rates for five different stablecoins: TGBP. TAUD. TCAD. TUSD. and USDP (Paxos USD), digital assets that are pegged to the British Pound and Australian Dollar. The reward rates for other cryptocurrency such as Bitcoin and Ethereum are the same.
The company did not explain why it had removed these tokens in its announcement. Decrypthas been contacted for more information.
The news received mixed reactions, with many people saying that it was ” a pity” that Shiba Inu rewards and Dogecoin were no longer available.
Others claimed that the exchange’s interest rate was so low they were comparable with a traditional bank . One Bitcoin holder stated, “It is not worth locking up any funds!”
Many were disappointed by the news but others said that Crypto.com was moving in the right direction for “long-term sustainability.”
Two weeks ago, Crypto.com announced that it would be laying off 5% employees due to the ” Market Downturn.”