coinquora.com
In the midst of the bearish market, crypto exchange Crypto.com declared on Monday that it is removing meme coins such as Shiba Inu(SHIB) and Dogecoin (DOGE) from its Crypto Earn program. Apart from the meme coins, 13 other coins such as Tezos and FLOW are also being eliminated from the program.
However, Crypto.com did not specify the reason for cutting these coins from the Crypto Earn list. Significantly, Crypto.com included in the same announcement that it has added coins like Fantom (FTM), Zilliqa ( ZIL), and NEAR to the earn list.
Crypto Earn changes effective 27 June 2022:
✅ $FTM, $ZIL and $NEAR are now available for Crypto Earn
✅ Select tokens no longer available
✅ Revised rewards rates for select stablecoins pic.twitter.com/cqkklGHZC3— Crypto.com (@cryptocom) June 27, 2022
Meanwhile, the crypto exchange also modified the Earn rewards for some stablecoins. This includes TGBP, TUSD, TCAD, TAUD, and USDP (Paxos USD). These are the stablecoins pegged to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar. However, there are no changes in the reward rates given for Bitcoin, Ethereum, Avalanche, Solana, and Polygon.
Following the news of the removal, there were mixed responses from the Twitter crypto community. One Twitter user said: They closed out my doge and SHIB flexible earning rewards. Some also called this move a shame. Another user remarked it was not worth locking up funds in Crypto.com.
Meanwhile, many other Twitter users responded positively, where one investor tweeted that there is “long-term sustainability” for coins on Crypto.com.
Crypto Earn is a feature in Crypto.com where users of any listed coin can earn rewards by allocating their preferred crypto assets in this unique feature.