As bears continue to overwhelm the crypto market, the cryptocurrency exchange Crypto.com has announced that it has removed Shiba Inu (SHIB), Dogecoin (DOGE), Tezos (XTZ), FLOW, and 11 other cryptocurrencies from its Crypto Earn rewards program.
Although the exchange discretely removed the tokens mentioned above, it decided to add Ziliqa (ZIL), Fantom (FTM), and NEAR to the list.
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The exchange also said in the announcement that it will be modifying the reward rates for five different stablecoins, including TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD), which are crypto-assets pegged to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar.
As for other digital currencies such as Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and Solana (SOL), their rewards rates remain unchanged.
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Mixed Reactions Greet the Decision
As expected, the news was greeted with mixed reactions from the crypto community members. A number of users on Twitter said that it was a shame that Crypto.com removed Shiba Inu (SHIB) and Dogecoin (DOGE) from its list of options.
Others said that the exchange’s interest rates were so low that they were comparable to a traditional bank. One Bitcoin holder said, “Not worth to lockup any funds!”
Although many were disappointed by the news as mentioned above, some others argued that Crypto.com was making positive strides toward “long-term sustainability.”
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