Cryptocurrency exchange Coinbase has temporarily closed its influencer marketing program in the US. This was reported by Business Insider citing emails sent by the exchange to participants in the initiative.
According to the documents, it has been reported that interest payments to influencers will be stopped from July 19. As part of the collaboration, “influencers” attracted new users to Coinbase via social networks.
Earlier, Coinbase announced a staff discount of around 18% due to the start of the crypto winter, followed by the shutdown of the Coinbase Pro platform for professional traders.
For the first quarter of 2022, the stock market took a net loss of $429.7 million. Against this background, along with the decline in the cryptocurrency market, the company began optimizing costs.
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Source: Fork Log
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