Crypto.com now charges at least a 1.5% fee for USDC to USD conversion post-USDC depegging chaos

Users are now complaining that they are being charged a 1.5% fee for USDC to USD conversions. They have vaguely referred to officially with the statement "Out of an abundance of caution, we have temporarily suspended USDC to USD conversion." issued just after depegging started. This basically makes the card with its rewards useless in one way as simply topping up the card via USDC will cost you 1.5% through this conversion.

I can't be sure but I cannot see anywhere that CDC had explicitly made users aware of the change and increased cost. In any case, users should probably avoid using USDC on CDC. And I must say, CDC could have been a lot more transparent about this.

There are also complaints about CDC "taking advantage" of users during the depeg that cost users a several percentage losses because the CDC spread on USDC was even higher than normal(CDC price spreads are always larger than the market average). This is of course more difficult to ascertain due to the volatile prices at that time.

You can view some of the complaints here:

https://www.reddit.com/r/Crypto_com/comments/122wxu6/is_cdc_now_charging_a_fee_to_convert_usdc_to_usd/

https://www.reddit.com/r/Crypto_com/comments/11t3js2/new_feespread_on_usdc_used_to_be_11_now_when_i/

There were more complaint on places like Telegram and others but these are two prime examples.