Binance.US, the American subsidiary of cryptocurrency exchange giant Binance, is trumpeting the launch of its affiliate marketing program even as rival Coinbase (COIN) closed its affiliate program, citing bear market conditions.
The Binance.US affiliate program is a way of incentivizing third-party influencers and entrepreneurs to promote the exchange through social media platforms and other means of publicity. “The program is an example of how much the firm is “leaning in while competitors and peers pull back in the current market environment,” according to a Binance.US representative.
“In light of recent reports that Coinbase is shutting down its affiliate marketing program, Binance.US is launching its own affiliate program,” a Binance.US representative said via email.
This is not the first time Binance.US has taken a swipe at Coinbase’s reaction to this year’s crypto market slowdown. Back in June, Binance.US CEO Brian Shroder said he would happily hire any applicants disappointed by Coinbase’s hiring freeze.
Those affiliates joining the Binance.US affiliate program earn $10 on every referral that completes their first $100 in buys and/or trades within 30 days of completing account verification, according to a blog post.