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Coinbase and Algorand Give Divergent Reasons for Staking Reward Suspension

Algorand Foundation CEO Stacy Waden took to Twitter to confirm rumors about Coinbase's decision to discontinue Algorand (ALGO) staking rewards for retail customers. Coinbase and Algorand, however, cite different reasons for the move.

According to Waden's tweet, Coinbase informed Algorand about the sudden termination of rewards for ALGO tokens on March 22, as the crypto exchange evaluates its portfolio of products and services following a Wells Notice issued by the United States Securities and Exchange Commission (SEC) the same day.

(by ANA PAULA PEREIRA)

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