Coinbase declared bankruptcy: false rumors or an operation already underway?

The (temporary) closure of Coinbase’s affiliate marketing program in the US comes from media sources that agreed on the July 19 date. Thanks to the leaked emails, interested in trade Thus, she was able to discover that Coinbase had informed its partners of the program.

It wasn’t an easy decision, and it wasn’t taken lightly, but given the cryptocurrency market conditions and expectations for the remainder of 2022, Coinbase is unable to move forward. To support incentivized traffic on its platform Coinbase says in one of the emails.

Although the listed company indicated that a resumption of the program could take place next year, this is not enough to reassure the community. On Twitter, Kurt Wuckert Jr of CoinGeek For example, Coinbase is going through a liquidity crunch of shutting down Coinbase Pro and deactivating the affiliate program.

Last month, Coinbase combined its US and US dollar markets, shutting down Coinbase Pro and discontinuing its affiliate program. This comes more than a year after insiders sold COIN shares in US dollars which completely crashed. I smell a cash crunch. where is the money, Tweet embed? https://t.co/DuoQcwkjsH

Unfounded rumors?

It is difficult to sort truth from error in the multiple information that is currently emerging regarding the fate of Coinbase. The company is certainly going through difficulties and has seen its price drop by 70% over the past six months, but there has been a noticeable improvement in the Nasdaq for a few weeks.

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Affiliate marketing is one of the many additional tools we use to reach target audiences, and pauses in the program are in no way a sign of a cash flow problem. ‘, we reaffirm the corporate side

In addition, as a publicly traded company, Coinbase is required to publish its balance sheet and any other information that may be harmful to shareholders. Popular cryptocurrency YouTuber Jungle inc. Coinbase’s cash reserves were recently estimated at about $6 billion, in addition to significant crypto reserves.

Coinbase has 6 billion cash + large crypto reserves. They will be fine! With that being said, you’ve moved everything. 🍾🍾🍾

So there should be no rush to abandon Coinbase, as a quick recovery in the stock market is possible if the cryptocurrency market recovers.

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