“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. Concurrent with reducing our workforce, we are sunsetting several initiatives, such as Affirm Crypto.”
“We have taken decisive actions to reduce expenses. We believe our cost base is now appropriately sized towhile still supporting our product roadmap and long-term growth ambitions,” he said. The firm launched the “Affirm Crypto Program” in late 2021 near crypto’s market peak when it partnered with Bitcoin payments platform NYDIG to process BitcoinThe program enabled users to set up a scheme where monthly interest accrued from a user’s savings account would be automatically converted into BTC.to the Affirm website:
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