Crypto.com removed 15 altcoins including Dogecoin (DOGE) and Shiba Inu (SHIB) from its Crypto Earn program on Monday. The delisting of these cryptocurrencies will be effective from June 27, 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 is offering up to 10% on stablecoins and up to 14.5% on cryptocurrency deposits. It supports more than 40 assets.
“Existing fixed-duration allocations for these tokens will remain unchanged and will continue until the end of the term. Funds from any active flexible-duration allocations for the tokens listed above will be automatically returned to the users Crypto Wallet. here on June 28, 2022, 10:00 UTC,” Crypto.com said in a announcement.
Other coins that have been 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 has added three new coins – Zilliqa (ZIL), Fantom (FTM) and NEAR – to the Crypto Earn rewards program.
“Users can now enjoy reward rates of up to 5% per year for FTM and 6% per year for ZIL and NEAR. We will also revise the reward rates for certain stablecoins,” he said.
Earlier, CryptoPotato reported that the trading platform is laying off some of its staff given the current market downturn. Other media reported that the layoff would be around 5%, affecting at least 260 employees.
Last week, Crypto.com received main endorsement of the Monetary Authority of Singapore to provide Digital Payment Token (DPT) services and various other settlement solutions.
Parts with modified rates
Additionally, the exchange also changed the reward rates for five stablecoins TGBP, TAUD, TCAD, TUSD, and USDP.
“The new rates only apply to allocations placed from the date of entry into force. Reward rates for already placed allocations will remain unchanged,” he said.
Private Crypto.com users holding Rose Gold, Icy White, and Obsidian cards will continue to earn an additional 2% per year on fixed-term allocations.
On the other hand, the company has not changed the Crypto Earn reward rates for 28 coins which include Bitcoin, Ethereum, Polygon, Avalanche, and Solana. These will continue to earn up to 14.5%.
The exchange did not provide any clarification as to why it removed these 15 coins from the Crypto Earn rewards program, which provides interest rates similar to those of a savings account on deposits for flexible and fixed mandates.