CRO Coin Falls 19% After Crypto.com Announces Rewards Cut Down To Cardholders

CRO Coin Falls 19% After Crypto.com Announces Rewards Cut Down To Cardholders


On Monday, Crypto.com’s Cronos (CRO) slide followed suit with a sharp drop after the crypto exchange said it was reducing some staking and rewards tied to its popular pre-paid Visa cards. 

According to Tradingview.com, the coin dropped by 19% to $.265. On Sunday before the announcement, CRO was trading above $.33 per coin. 

Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline

Crypto.com announced the changes in a blog post:

Trending: After Days of Pressure, Kathy Barnette Releases a DD-214

To ensure long-term sustainability, we are introducing a number of changes to the CRO Card rewards programme, effective 1 June 2022 00:00 UTC.

CRO Card Rewards Cut Down

Next month, the company will reduce the usage rewards on four of the exchange’s card tiers.  The most premium tier, the Obsidian tier,

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend