Share this article
Payments Company Affirm Is Shutting Down Its Crypto Business
During the bull market of 2021, Affirm had joined a number of fintech firms in offering clientele the ability to buy and sell crypto.
By Helene Braun
Updated May 9, 2023, 4:07 a.m. Published Feb 8, 2023, 9:32 p.m.
Payment network Affirm (AFRM) is shutting down the cryptocurrency service it started in 2021, according to a letter to shareholders on Wednesday.
Affirm Crypto will close on March 2. The shutdown is part of a larger retrenchment for the company, which also announced it would eliminate 19% of its workforce. It's unclear what proportion of those layoffs are related to the crypto operation.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Concurrent with reducing our workforce, we are sunsetting several initiatives, such as Affirm Crypto,” CEO Max Levchin said in the letter.
Affirm joined other fintech firms launching crypto initiatives in the late stages of the bull market. Affirm Crypto was designed to let customers buy, sell or hold cryptocurrencies.
The company's stock recently fell 17% in after-hours trading.
UPDATE (Feb. 8, 21:47 UTC): Adds comment from Affirm CEO Max Levchin.
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
Bilinmesi gerekenler:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
