{"id":60903,"date":"2022-05-03T10:36:55","date_gmt":"2022-05-03T07:36:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60903"},"modified":"2025-09-05T09:02:00","modified_gmt":"2025-09-05T06:02:00","slug":"crypto-com-token-falls-25-after-staking-rewards-cut","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crypto-com-token-falls-25-after-staking-rewards-cut\/","title":{"rendered":"Crypto.com token falls 25% after staking rewards cut"},"content":{"rendered":"<p>The Crypto.com cryptocurrency platform announced a substantial cut in staking rewards for the CRO token on prepaid cards. The asset&#8217;s price fell in response.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Visit our blog for more details \ud83d\udc49 <a href=\\\"https:\/\/t.co\/cMWQdhKoY7\\\">https:\/\/t.co\/cMWQdhKoY7<\/a><\/p>\n<p>\u2014 Crypto.com (@cryptocom) <a href=\\\"https:\/\/twitter.com\/cryptocom\/status\/1520752336062214146?ref_src=twsrc%5Etfw\\\">May 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On May 1, the company published new rates, which will take effect in a month. On average, for cards, rewards on CRO-staked funds locked for 180 days will be reduced by 69.5%. For entry-level Midnight Blue cards, staking will become unavailable.<\/p>\n<p>The company also introduced monthly reward caps. For Ruby Steel it will be $25 per month, for Royal Indigo and Jade Green \u2014 $50.<\/p>\n<p>Management explained that the changes are necessary to \u201censure long-term sustainability.\u201d The community reacted negatively to the announced changes.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"und\\\"> <a href=\\\"https:\/\/t.co\/uuNdCnc75o\\\">pic.twitter.com\/uuNdCnc75o<\/a><\/p>\n<p>\u2014 \ud83c\udfaf TrustInMemes \ud83c\udfaf (@jessedurant13) <a href=\\\"https:\/\/twitter.com\/jessedurant13\/status\/1520764115240820736?ref_src=twsrc%5Etfw\\\">May 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On May 3, Crypto.com CEO Kris Marsalek said the decision would be adjusted to ensure \u201ca more balanced approach.\u201d<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe community has been very vocal about the announced changes to the card programme. We care about you, we hear you and listen. As a result, we are revising staking rates,\u201d he wrote.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">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 &#038; always listen to you. <\/p>\n<p>As a result, we\u2019re revising card staking rates. \ud83e\uddf5<\/p>\n<p>\u2014 Kris | Crypto.com (@kris) <a href=\\\"https:\/\/twitter.com\/kris\/status\/1521279812576608256?ref_src=twsrc%5Etfw\\\">May 3, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to him, instead of a full withdrawal of rewards, the company will offer 8% annual staking for Obsidian, Icy White and Frosted Rose Gold cards. For Royal Indigo and Jade Green the rate will be 4%. As of writing, the platform\u2019s official decision had not been published.<\/p>\n<p>The CRO token, after the staking changes for cardholders were announced, slumped from around $0.36 to $0.265 at one point \u2014 about 26%. The price recovered to around $0.29 after Marsalek\u2019s tweet about the anticipated change to the company\u2019s decision was published.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh4.googleusercontent.com\/iJTVkV5FQIhTIwtS7ZhKtzQPpsoXS1iJmU2bzLfii7FeHiVewRCkrx-z985JveANSbzRUCLMg716uLooNKGgkNneDCITB3FkpqIwb-5DX72KfWmwZ6k9JUf1ASeKKmDNkPxTSu8SBobDLBBaIw\\\" alt=\\\"Crypto.com token falls 25% after staking reward cut\\\"\/><figcaption>4-hour CRO\/USD chart on Coinbase. Data: TradingView.<\/figcaption><\/figure>\n<p>According to <a href=\\\"https:\/\/www.coingecko.com\/ru\\\">CoinGecko<\/a>, in the last seven days the asset fell 28% and sits 21st in market capitalisation among cryptocurrencies, with a value of about $7.3 billion.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh6.googleusercontent.com\/84U_jG9UowQ3xIEqGOuSRQ60uLt0L6mNwaN_psxsKZ--Q8K_03wQbasG8Q0oOc0Z54fryzeF_EUR98eX1o8GrtHZEdt6E3uJrCpt3SPCwA1oOtEgbIMPB-cZgYovu4l5EjAF74bA8YyoM0dkyQ\\\" alt=\\\"Crypto.com token falls 25% after staking reward cut\\\"\/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>In January Crypto.com <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-report-crypto-com-hack-company-denies-loss-of-funds\">was hacked<\/a>. The company initially denied losses, but later <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-com-reveals-details-of-recent-hack-around-34-million-withdrawn-from-the-platform\">acknowledged an unauthorized withdrawal of $34 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Crypto.com cryptocurrency platform announced a substantial reduction in staking rewards for the CRO token on prepaid cards. The asset&#8217;s price fell in response.<\/p>\n","protected":false},"author":1,"featured_media":60904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1452,1289],"class_list":["post-60903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-crypto-com","tag-cryptocurrency-staking"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60903"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60903\/revisions"}],"predecessor-version":[{"id":60905,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60903\/revisions\/60905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60904"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}