Again, cryptocurrency users and industry experts are sensing troubles ahead for the leading US exchange Coinbase, following recently leaked information that the company has decided to stop its affiliate program in the United States temporarily. It’s no longer news that Coinbase has been facing headwinds with its global operations amid the bear market. However, the recent reports in the past weeks somehow convey that situation could be so serious than imagined. These are worrying times for Coinbase and cryptocurrency user
According to emails leaked to Bussiness Insider, Coinbase intends to suspend the US affiliate marketing programs starting July 19th temporarily. Before this update, some of the promoters claimed that the company slashed the commission bonus by a wide margin – up to 90%. Meanwhile, the exchange did mention that the program would be resumed in the coming year (2023) but failed to state the exact date.
Experts perceive the report as a red flag on Coinbase, with some warning that users to pull out their cryptocurrency from the exchange, saying the exchange could be headed for a liquidity crisis. Ben Armstrong (BigBoy Crypto) believes that the chances of Coinbase going bankrupt are very slim but not impossible. Should Coinbase file for bankruptcy, “this would break crypto the crypto space like we have never seen before,” he added.