Connect with us

Crypto

Popular crypto exchange cuts card rewards

Published

on

One of the biggest prepaid crypto cards is getting a downgrade, and people are not holding back their concerns

Crypto.com says it will cut the staking and cashback rewards on its Visa-backed prepaid cards from June.

Cardholders have previously been able to get anywhere between one and 8 per cent in rewards.

But the new changes mean the rates have been slashed to 0 per cent for first two tier users, with a small increase for top tier users.

Before this latest round of changes, cardholders had to lock $400,000 dollars worth of CRO tokens to get the highest cashback rate on the platform.

The company says there will be no changes in the remaining card benefits, including reimbursements for Netflix, Spotify, and Amazon Prime subscriptions.

But users have expressed concerns around the changes, which sent the CRO token down 17 per cent on the day of the announcement.

Since the announcement, people have been also questioning the company’s health and the importance of prepaid cards.

One thread even branded the decision as “the worst mistake” the company has ever made.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Continue Reading

Business

Government-backed crypto could threaten the U.S. economy, report finds

Published

on

Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

Continue Reading

Business

Kim Kardashian charged over crypto promotion

Published

on

Kim Kardashian is making headlines today but not for good reasons.

The celebrity has been charged $1.26 million by the Securities and Exchange commission for unlawfully promoting a crypto asset on her Insta profile.

The SEC found that the star failed to disclose she was paid $250, 000 to post about the digital coin.

Chair Gary Gensler says this is a reminder that “when celebrities endorse investment opportunities, it doesn’t mean that those investment products are right”

Gensler warned investors to do their own research and analyse the risk involved based on their own financial goals.

Kardashian fully cooperated with the investigation and is not allowed to promote another crypto asset for three years.

Continue Reading

Crypto

Coinbase users in the dark following company-wide fault

Published

on

Coinbase users were left in the dark at the weekend because of a company-wide fault

The crypto exchange temporarily stopped transactions for users in the U.S. for over five hours.

Withdrawals and deposits involving bank accounts were put on hold.

But users could still use a debit card or PayPal to buy their crypto.

It follows a string of delays with Solana too, after the network suffered an outage last Friday.

Of course, Coinbase dropped over 1-thousand staff as the value of the crypto falls dramatically.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD