Before this recent affiliate news, Coinbase had already lowered commission rates for some influencers in June.
“My commissions are almost non-existent with them anymore, so I haven’t paid attention,” said a fourth influencer who used the program.
Many personal-finance influencers earn revenue from affiliate marketing or driving sales or sign-ups to a platform.
In response to a request for comment about the affiliate marketing program, a coinbase spokesperson said:
“As shared in our Q1 Shareholder Letter, the majority of our marketing spend is oriented towards performance marketing. Affiliate marketing is one of many supplemental levers we employ to reach target audiences, and the temporary pause of the program is in no way indicative of a liquidity problem. As a publicly traded company, our strong balance sheet is transparent to the public. We look forward to working with many of our incredible partners and web3 creators in the future.”
