![]() ![]() “On March 2, 2023, the ability to purchase bitcoin through the Affirm app will end. On the website, it is stated that the cryptocurrency program will formally end on March 31: With the help of the program, customers could set up a system where monthly interest from their savings account would be automatically converted to Bitcoin. The company teamed with Bitcoin payments provider NYDIG to process Bitcoin (BTC) transactions and offer Affirm users a crypto account, launching the “Affirm Crypto Program” late in 2021, just as the cryptocurrency market was reaching its high. NYDIG to process Bitcoin (BTC) transactions and offer Affirm users a crypto account Similar to Afterpay, Affirm is a payments service provider targeted towards millennials that enables clients to make an online purchase and pay later. We believe our cost base is now appropriately sized to meet our profitability goals while still supporting our product roadmap and long-term growth ambitions,” he said. “We have taken decisive actions to reduce expenses. The firm’s chief financial officer Michael Linford said the decision was made to meet profitability goals. ![]() Concurrent with reducing our workforce, we are sunsetting several initiatives, such as Affirm Crypto.” “In a period of increased economic uncertainty, we are doubling down on our core businesses, delaying projects with less certain revenue timelines, and aligning our operating expenses with revenue. The two main factors that led to the decision, according to him, were the macroeconomic environment’s uncertainty and the requirement to offset some obligations on the company’s balance sheet: On February 8, a letter to shareholders and a 19% personnel reduction were both announced. ![]()
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