Crypto.com has revised the number of tokens that will be available on their Crypto Earn program, with Dogecoin and Shiba Inu being among the coins that will be removed from the platform’s Earn feature.
The cryptocurrency exchange is one of the largest in the world, cementing their status as a key player in the industry over the past few years, and stamping their brand on the former Staples Center, now known as the Crypto.com Arena. However, with the past few months of instability in the cryptocurrency markets Crypto.com has faced some difficult times.
With some major changes in the industry, and Crypto.com cutting around 5% of its workforce, CEO, Kris Marszalek shared the decision to cut down the workforce as part of the “difficult and necessary decisions to ensure continued and sustainable growth for the long term”.
The announcement titled ‘Crypto Earn Updates: Changes to Available Tokens and Revised Rates for Select Stablecoins’, is part of a re-shuffle that included a further announcement that it has started accepting Apple Pay in its app for U.S. users.
“In addition to the new tokens and revised rates, the following tokens will no longer be available on Crypto Earn: SHIB, DOGE, XTZ, MKR, EOS[…]FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX, BNT. 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.”
The removal of Dogecoin and Shiba Inu from Crypto.com resulted in a dip of Cronos (CRO), the utility token of the Crypto.org platform, as users criticised Crypto.com for the removal of the popular meme coins.
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Source: https://cryptodaily.co.uk/2022/06/crypto-com-pulls-dogecoin-shibainu-crypto-earn