Experts warn that Coinbase could be the next big insolvency

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Last Updated on July 16, 2022 by Bitfinsider

According to Business Insider, Coinbase is temporarily discontinuing its affiliate marketing program in the United States. According to an email sent to three creators, the crypto exchange will suspend its program on July 19th, citing current market conditions and the crypto industry’s negative outlook.

Coinbase has halted its affiliate program due to market conditions. Coinbase’s share price has dropped nearly 85% from an all-time high of $357 to the current $53.79.

Goldman Sachs recently downgraded Coinbase’s rating to sell, citing the platform’s struggles as a result of the ongoing bear market. Coinbase’s value has dropped from an all-time high of $75 billion last year to a mere USD 12.4 billion.

In a letter to shareholders, the company stated that market volatility has a direct impact on its first fiscal quarter results. In the first quarter of 2022, they reported a $430 million financial loss. Trading volume and assets on the platform both decreased significantly.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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