Crypto.com CEO teases back generous card perks as market conditions improve
During a recent Ask Me Anything (AMA) on the topic of the Crypto.com card, CEO Kris Marszalek said, “You can count on us to juice the benefits or add new benefits as the market recovers.”
Crypto.com users lament aggressive cuts
In the previous bull cycle, the Crypto.com card offered members tempting benefits, such as significant cashback and increased stake rewards for users who locked in CRO tokens for a minimum of 180 days.
For example, top-tier Obsidian members received 8% cashback—with most tiers offering refunds for Spotify, Amazon Prime, and Netflix subscription services, among other perks.
However, after June 1, 2022, Crypto.com cut these benefits – such as halving cashback, limiting monthly rewards and withdrawing subscription refunds – in response to the deteriorating market conditions.
Users understood that cuts were necessary – but still expressed disappointment that the changes had been made suddenly.
At the time, one Redditor said that phasing in the cuts would have been a better approach. Another said the move was too aggressive, further commenting that it could potentially cause the platform to lose users.
Generous membership benefits to return
In a recent AMAthe Crypto.com CEO explained that card benefits are funded by trading activity on the platform – making generous card benefits possible under favorable market conditions.
With signs of crypto winter thawing, Marszalek said new short benefits are being discussed in readiness for the upcoming bull cycle. However, he did not give anything concrete about what these benefits would entail.
“There is an element of brainstorming and experimentation on this front from us as we prepare for the next cycle.”
When asked when to expect the bull market, Marszalek did not give a specific time frame. Instead, he referred to Crypto.com’s strategy of “building during a bear market,” revealing that there isn’t enough time to prepare for when it comes.
He explained that the Bitcoin halving is a year away, leaving the company with a relatively narrow window of four quarters to develop and deliver products in anticipation of the market recovery.
“How much can you send, and how much can you prepare in four quarters?”
He signed off, reiterating the company’s focus on keeping our heads down and building, adding that “when the market turns, we’ll be ready.” He then asked the viewers if they were ready.
“What you do now will determine your results during the next cycle.”
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