Crypto.com on Monday removed 15 altcoins including Dogecoin (DOGE) and Shiba Inu (SHIB) from its Crypto Earn program. The delisting of these cryptocurrencies will be effective from 27 June 2022, 10:00 UTC, the company said.
It also revised the interest rates of 5 stablecoins and added three new coins to the reward program.
Under the Crypto Earn program, the company offers up to 10% on stablecoins and up to 14.5% on cryptocurrencies deposits. It provides support for over 40 assets.
“Existing fixed-term allocations for these tokens will remain unchanged and continue until the term ends. Funds from any active flexible-term allocations for the tokens listed above will be automatically returned to users’ Crypto Wallet by 28 June 2022, 10:00 UTC,” Crypto.com said in an announcement.
Other coins that got removed from its Earn program are Tezos (XTZ), Maker (MKR), Flow (FLOW), Kyber Network Crystal v2 (KNC), EOS (EOS), OMG Network (OMG), ICON (ICX), Compound (COMP), Gas (GAS), Stratis (STRAX), and Bancor (BNT), Beefy Finance (BIFI), Ontology Gas (ONG).
Coins Added to Crypto Earn
The crypto trading platform added three new coins – Zilliqa (ZIL), Fantom (FTM), and NEAR – to the Crypto Earn rewards program.
“Users can now enjoy rewards rates of up to 5% p.a. for FTM, and 6% p.a. for ZIL and NEAR. We will also be revising the reward rates for select stablecoins,” it said.
Earlier, CryptoPotato reported that the trading platform is laying off a portion of its workforce given the current market downturn. Other media reports said the lay-off would be in the range of 5%, impacting at least 260 employees.
Last week, Crypto.com received in-principal approval from the Monetary Authority of Singapore to provide Digital Payment Token (DPT) services and various other settlement solutions.
Coins With Rates Modified
Besides, the exchange also changed the reward rates for five stablecoins TGBP, TAUD, TCAD, TUSD, and USDP.
“The new rates are only applicable to allocations placed on or after the effective date. The reward rates for allocations that have already been placed will remain unchanged,” it clarified.
Crypto.com’s Private Users holding Rose Gold, Icy White, and Obsidian cards will continue to earn an additional 2% per annum on fixed-term allocations.
In contrast, the company has not changed the Crypto Earn reward rates for 28 coins that include Bitcoin, Ethereum, Polygon, Avalanche, and Solana. These will continue to earn up to 14.5%.
The exchange didn’t offer any clarification as to why it removed these 15 coins from the Crypto Earn rewards program, which provides savings account-like interest rates on deposits for flexible and fixed tenures.