Crypto.com removed 15 altcoins, including Dogecoin and Shiba Inu from its Crypto Earn program on Monday. According to the company, the delisting will take effect on 27 June 2022 at 10:00 UTC.
The interest rates for 5 stablecoins were also adjusted and three new coins were added to the reward program.
The company offers up 10% off stablecoins and 14.5% on cryptocurrencies deposits under the Crypto Earn program. It supports over 40 assets.
“Existing fixed term allocations for these tokens remain the same and will continue until the end of their term. Crypto.com announced that funds from any active flexible term allocations for the above tokens will be returned to Crypto Wallet users by 28 June 2022 at 10:00 UTC.
Tezos, Maker (MKR), Flow(FLOW), Kyber Network Crystal v2 (KNC), EOS [EOS], OMG Network (OMG Network (OMG) and ICON (ICX), Compounds (COMP), Gas/GAS), Stratis Stratis (STRAX), Bancor (BNT), Beefy Finance (BIFI), Ontology Gas (ONG), were some other coins that were removed from the Earn program.
Crypto Earnings with Coins
Three new crypto currencies were added to the Crypto Earn rewards program by the crypto trading platform: Fantom (FTM) and Zilliqa ZIL.
“Users now have the opportunity to receive rewards rates up to 5% per annum. FTM and 6% p.a. ZIL and NEAR It also stated that they will be revising the reward rates of select stablecoins.”
CryptoPotato earlier reported that the trading platform was laying off some of its employees due to the current market downturn. According to other media reports, the layoffs would range from 5% to 260 employees.
Crypto.com was approved by the Monetary Authority of Singapore last week to offer Digital Payment Token (DPT), as well as other settlement options.
Changed Rates on Coins
The exchange also altered the reward rates of five stablecoins, TAUD TCAD TCAD TUSD and USDP.
The new rates will only be applicable to allocations made after the effective date. It clarified that the reward rates for allocations already placed will not change.
Crypto.com’s Private User holding Rose Gold, Icy White and Obsidian cards will continue earning an additional 2% per year on fixed-term allocations
The Crypto Earn rewards rates for 28 coins, including Bitcoin, Ethereum and Polygon, Avalanche as well as Solana, have not been changed by the company. These coins will continue to earn as high as 14.5%.
The exchange did not provide any explanation as to why they removed the 15 coins from Crypto Earn rewards program. This rewards program offers savings account-like interest rates for deposits and flexible or fixed tenures.
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