After announcing that it was going to strongly reduce the rewards offered to its payment card holders, Crypto.com reverses its decision and changes the rates again. The decision comes after its community complained loudly about the changes, causing the CRO token to crash.
Reduction of Crypto.com benefits not well received
We told you yesterday that Crypto.com has completely overhauled its offer for the various payment cards it provides, reducing quite significantly the benefits they offered, particularly in terms of cashback and staking rewards.
However, the reactions were not long in coming, as can be seen from the countless negative comments under the tweet relating to the announcement, the actual changes of which are scheduled for 1 June.
The price of the ROC, which has been on a downward trend since it reached its all-time high (ATH) of $0.89 in November 2021, fell significantly after the announcement. It reached a six-month low of $0.27.
14-day ROC price
In other words, the 22nd largest cryptocurrency by market capitalization has lost 31% of its value in the space of a week.
The benefits reviewed a second time
So, faced with the discontent of the Crypto.com community, Kris Marszalek, the company’s CEO, took to Twitter himself to announce that they would finally be reviewing the staking rewards again.
The community has been really vocal with regards to the changes to the card program announced yesterday. We care deeply about the community, we hear you & always listen to you.
As a result, we’re revising card staking rates.
– Kris
