Coinbase is ‘Temporarily Shutting Down’ its US Affiliate-Marketing Program

US-based cryptocurrency exchange Coinbase is «temporarily shutting down» its US affiliate-marketing program on July 19th based on emails sent to two of its creators.

Coinbase To Halt US Affiliate Program

According to leaked emails shared with Business Insider, Coinbase stated that its US Affiliate-Marketing Program would close on July 19, citing extreme market conditions. In those emails, the company said it plans to relaunch the program in 2023 but didn’t share an exact timeline. «We regret to inform you that Coinbase will be temporarily shutting down its Affiliate Program in the United States with an effective date of Tuesday, July 19th. This has not been an easy decision, nor was it made lightly. But due to crypto market conditions and the outlook for the remainder of 2022, Coinbase is unable to continue supporting incentivized traffic to its platform,» the email reads. The company had already lowered commission rates for some influencers back in June. For instance, one creator,  earning $40 per sign-up as of early 2022, said the amount dropped more than 90% to $2 per sign-up.

Allowing Influencers To Earn Revenue

Coinbase’s US Affiliate-Marketing Program allows influencers to earn revenue from affiliate marketing by driving sales or sign-ups to a platform. These finance affiliate programs are run directly through the company or an affiliate marketing network. The program was launched in 2019 in partnership with Impact, which helps the company connect with influencers, manage rates, and track sign-ups.

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