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Crypto.com Suspends Dogecoin, Shiba Inu and Other Cryptocurrencies from Earn Program

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As the bear market persists, Crypto.com said on Monday that 15 cryptocurrencies will be removed from its Earn rewards program. Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ) and FLOW are among the coins that have been removed, but the platform has added Zilliqa (ZIL), Fantom (FTM) and NEAR to the list.

Crypto.com is also changing the reward rates for five distinct stablecoins, which are digital assets pegged to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar: TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD). Reward rates for other cryptocurrencies such as Bitcoin, Ethereum, Polygon, Avalanche and Solana remain unchanged. The company did not explain why it withdrew these specific tokens at its launch.

Reaction to the reveal was mixed, with many users on Twitter stating that it was "a pity" that the Shiba Inu and Dogecoin rewards are no longer available. Others claimed that the exchange's interest rates were comparable to those of an ordinary bank.

“Not worth blocking any funds!” According to a Bitcoin owner. While many were dismayed by the news, others maintained that Crypto.com was taking steps towards “long-term sustainability”. The platform’s Crypto Earn modifications come just two weeks after the company said it will lay off 5% of its workforce due to a “market downturn”.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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