Crypto.com Removes Dogecoin, Shiba Inu and Other Cryptocurrencies From Its Earn Rewards Program
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Answer Crypto.com Removes Dogecoin, Shiba Inu and Other Cryptocurrencies From Its Earn Rewards Program
As the bear market continues, Crypto.com announced on Monday that it will remove 15 cryptocurrencies from its “Crypto Earn” reward program.
Among the cryptocurrencies that the platform has decided to remove are:
Dogecoin, Shiba Inu, Tezos, FLOW, Zilliqa, Fantom, and NEAR.
Crypto.com also announced a bonus price adjustment for five different stablecoins:
TGBP, TAUD, TCAD, TUSD, USDP (Paxos USD).
The reward rates for other cryptocurrencies such as Bitcoin, Ethereum, Polygon, Avalanche and Solana remain unchanged.
The company did not mention in its announcement the reason for removing these cryptocurrencies.Read:Dogecoin co-founder: Luna 2.0 project will attract stupid crypto gamblers
The response and reaction to the ad was mixed, with many users on Twitter saying it was not fair to remove Shiba Inu and Dogecoin rewards.
Others said that the reward rates on the platform were so low that they were on par with what traditional banks offer.
While many were disappointed with the announcement, others argued that Crypto.com was making positive strides toward long-term sustainability.
Crypto Earn’s changes to Crypto.com come just two weeks after the company announced that it would lay off 5% of its staff due to a market downturn.
In the sense that what happened was a result of the pressure on the platform after the decline in its returns as a result of the decline in the prices of cryptocurrencies.Read:MicroStrategy buys $190 million worth of Bitcoin at $45,714
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