Crypto.com Suspends Dogecoin, Shiba Inu, And Other Cryptocurrencies From Earn Program

As the bear market persists, Crypto.com stated on Monday that 15 cryptocurrencies will be removed from its Earn rewards program.

Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among the coins that have been removed, but the platform has added Zilliqa (ZIL), Fantom (FTM), and NEAR to the list.

Crypto.com is also changing the reward rates for five distinct stablecoins, which are digital assets fixed to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar: TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD). Other cryptocurrencies’ reward rates, such as Bitcoin, Ethereum, Polygon, Avalanche, and Solana, remain unaltered.

The firm did not explain why it withdrew those specific tokens in its release.

The reaction to the revelation was varied, with many users on Twitter stating it was “a shame” that Shiba Inu and Dogecoin rewards were no longer available.

Others claimed that the exchange’s interest rates were comparable to those of a regular bank. “Not worth to lock up any funds!” According to one Bitcoin owner.

While many were dismayed by the news, others maintained that Crypto.com was taking steps toward “long term sustainability.”

The platform’s Crypto Earn modifications come just two weeks after the firm said it will lay off 5% of its workforce due to a “market downturn.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

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