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Crypto.com removes Dogecoin and Shiba Inu from Crypto Earn

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Nonhlanhla P Dube

The number of tokens available on Crypto.com’s Crypto Earn program has been reduced, with Dogecoin and Shiba Inu among the coins withdrawn from the platform’s Earn feature.

The cryptocurrency exchange is one of the largest in the world, establishing its position as a vital player in the industry and imprinting its brand on the former Staples Center, now known as the Crypto.com Arena. However, with the recent volatility in the cryptocurrency markets, Crypto.com has experienced some ”difficult times and long-term growth.”

The announcement, headlined “Crypto Earn Updates: Changes to Available Tokens and Revised Rates for Select Stablecoins,” is part of a reorganization that also featured a notice that it has begun accepting Apple Pay on its app for US 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 caused a drop in Cronos (CRO), the platform’s utility token, as users criticized Crypto.com for removing the popular meme coins.

With some substantial developments in the sector and Crypto.com eliminating roughly 5% of its personnel, CEO Kris Marszalek shared the decision as part of the “difficult and necessary decisions to ensure continued success.”

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
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