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, through which users can earn by investing in the company.
In a blog post by the company Announcement being notified of these changes. Tezos (XTZ), Maker (MKR), Flow (FLOW), Kyber Network Crystal v2 (KNC), 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), and 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 account.
Earlier last week, the company had received approval from the Monetary Authority of Singapore to offer Digital Payment Token (Digital Payment Token) service and to provide various other settlement solutions.