✍️ 27 March, 2023 – 4:30 👤 Editor: Jakub Motyka
- Coinbase suspended its affiliate program, which has generated strong rumors of a liquidity crisis.
- On this Brian Armstrong assured that the company is sufficiently capitalized to weather the crypto winter.
- However, many users are beginning to suspect that the company is insolvent.
Coinbase has decided to suspend its affiliate program, which has generated rumors about a possible liquidity crisis. Many users in the crypto community have pointed out that this measure could be a strong indicator of the company’s insolvency. Kurt Wuckert JR, renowned influencer of the social network Twitter, highlighted that the exchange already had closed its “Pro” version before the affiliate program.
Wuckert, as well as other cryptocurrency influencers, believes that Coinbase has shown many symptoms of a possible liquidity crisis. On this, BitBoy assures that, if true, insolvency from Coinbase would “break the crypto space” in a way never seen before.
How Has The Coinbase Community Reacted To The Rumors Of The Liquidity Crisis?
Despite constant rumors from Twitter users and influencers about Coinbase’s possible liquidity crisis, a part of its community remains firm. Many say it’s just FUD, or fear, uncertainty and doubt, and point out that it’s natural for companies to cut costs during a recession. Crypto lawyer John Deaton, for example, believes industry leaders would “never allow a Coinbase bankruptcy” because of the ripple effect it would trigger in the market.
Coinbase CEO Brian Armstrong has done his best to quell the rumors by ensuring that the exchange is well capitalized. He noted that “in past downtrends we took the lead and consolidated our holding, staying focused. Recessions make the best companies even stronger, and this will be no exception for us.”
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