Crypto.com Pulls DOGE, SHIB, Others from Earn Program
Cryptocurrency exchange Crypto.com is removing DOGE, SHIB, and 13 other altcoins from Earn, while adding FTM, NEAR and ZIL.
With the bear market continuing, Crypto.com announced Monday that it will cut 15 cryptocurrencies from its Crypto Earn rewards program.
Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among those being removed, but Crypto.com added Fantom (FTM), Zilliqa (ZIL), and NEAR to the list.
Crypto.com is also modifying the reward rates for five different stablecoins: TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD), which are digital assets pegged to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar. Reward rates for other cryptocurrencies like Bitcoin, Ethereum, Polygon, Avalanche, and Solana remain unchanged.
The company didn’t say in its announcement why it removed those particular tokens.
Response to the news was mixed, with many users saying on Twitter that it was “a shame” that Shiba Inu and Dogecoin rewards were no longer an option.
Others said that the exchange’s interest rates were so low that they were comparable to a traditional bank. “Not worth to lockup any funds!” One Bitcoin holder said.
While many were disappointed by the news, others believe Crypto.com is moving toward “long term sustainability.”
The Crypto Earn changes of Crypto.com come just two weeks after the company announced a 5% layoff due to the “market downturn.”
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