Coinbase interrupts its affiliate marketing program

Leaked emails indicate that Coinbase is suspending its affiliate marketing program in the US as of Wednesday. The emails cited market conditions and the outlook as the reason for the suspension. Coin-base did not announce a specific date for the resumption of marketing activity but has said that it would resume the program in 2023. The American company advised its affiliates to remove advertising content from their websites. However, prominent crypto experts on Twitter believe that the liquidity crisis and bankruptcy are the main reason for Coinbase’s actions, as the failure of the exchange would shake the market to its core.

It is worth mentioning that Coinbase launched its affiliate marketing program in 2019. The program aims to communicate with influencers, manage rates, and track sign-ups. In accordance with reports, the marketer will receive 50% of each referral’s trading fees during their first three months on Coinbase.com. The recent suspension of the affiliate marketing program alludes to Coinbase’s lack of fiat to pay the influencers. It is important to note that Coinbase has invested $ 150 million in more than 12 Indian companies, including ZebPay, CoinDCX, CoinSwitchKuber and more. Therefore, if Coinbase collapses, it will have a major impact on Indian crypto and digital asset companies.

Source: The Pipsafe team