Crypto.com Removes 15 Altcoins Including Dogecoin, Shiba Inu From Rewards Program

Crypto.com has removed 15 altcoins, including Dogecoin (DOGE) and Shiba Inu (SHIB), from its Earn program. The delisting of all these 15 altcoins has come into effect from June 27. Apart from this, the company has also changed the interest rates of altcoins. It has changed the interest rates of five stable coins and has also added three new coins to its rewards program.

Crypto.com offers 10 percent returns on stable coins and 14.5% returns on cryptocurrency deposits under its Earn program. Under this program, the company supports more than 40 assets, which users can earn by investing in the company.

Crypto.com Removes 15 Altcoins Including Dogecoin, Shiba Inu From Rewards Program

The company announced these changes in a blog post. Tezos (XTZ), Maker (MKR), Flow (FLOW), Kyber Network Crystal v2 (KNC), and EOS (EOS) are on the list of 15 altcoins, including Dogecoin (DOGE) and Shiba Inu (SHIB), to be removed from the company’s portfolio. , OMG Network (OMG), ICON (ICX), Compound (COMP), Gas (GAS), Stratis (STRAX), Bancor (BNT), Beefy Finance (BIFI), Ontology Gas (ONG).

In addition, the company has also added three new altcoins to the Earn Program, including Zilliqa (ZIL), Fantom (FTM), and NEAR. The company has also changed the reward rates for TGBP, TAUD, TCAD, TUSD, and USDP stable coins. However, the company has not changed the reward rate for the remaining 28 coins which include tokens such as Bitcoin, Ethereum, Polygon, Avalanche, and Solana. The company gives up to 14.5% return on these.

Earlier it was reported that the company may reduce the number of its employees in order to cushion the impact of the huge downturn in the cryptocurrency market. Media reports said that the company may lay off 5 percent of the employees, due to which about 260 employees can be removed from the company. The company has not officially given reasons for the removal of 15 altcoins from the Earn program. Under the program, the company pays interest on fixed and flexible ie non-fixed deposits like savings accounts.

Earlier last week, the company received approval from the Monetary Authority of Singapore to offer Digital Payment Token (Digital Payment Token) service and to provide various other settlement solutions.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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