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Tinder Suspends Crypto And Metaverse Plans Following Disappointing Q2 Earning And CEO Departure

The online dating giant and parent company behind the popular dating app Tinder, Match Group (NASDAQ:MTCH), has announced that it will pull the plug on its crypto launch...
Tinder Suspends Crypto And Metaverse Plans Following Disappointing Q2 Earning And CEO Departure © Reuters. Tinder Suspends Crypto And Metaverse Plans Following Disappointing Q2 Earning And CEO Departure

The online dating giant and parent company behind the popular dating app Tinder, Match Group (NASDAQ:MTCH), has announced that it will pull the plug on its crypto launch and cut funding for its metaverse following a disappointing Q2.

Match Group Pulls Plug on Tinder’s Crypto Plans

In a recent release, Bernard Kim, CEO of Match Group, announced that the dating company will be dialing down on its metaverse investments.

Bernard Kim said, “given uncertainty about the ultimate contours of the metaverse and what will or won’t work … I’ve instructed the Hyperconnect team to iterate but not invest heavily in metaverse at this time.”

In addition, the CEO of Match Group revealed that the company has scrapped plans to release an in-app digital currency called Tinder Coins.

The pulling of plugs on Tinder’s crypto and metaverse move follows a disappointing outing in Q2 (a $795m revenue against a predicted $810m), falling short on product execution and attracting new users.

Tinder’s CEO Leaves

In the Tuesday letter to stakeholders, Bernard Kim also announced that Tinder’s newest CEO, Renate Nyborg, will leave the company after spending less than a year on the job.

Following the departure of Nyborg, Tinder reorganizes its management team. Kim said he will oversee the team while Tinder searches for a permanent CEO.

On the Flipside

  • Despite Tinder’s exit from the crypto scene, love and dating scams are on the rise.

Why You Should Care

This starkly contrasts Tinder’s bullish view on the metaverse and crypto earlier this year, acquiring Hyperconnect for $1.73 billion to launch Tinderverse, a Metaverse dating platform.

Read about crypto love scams in:

Tinder Fraudsters Sweet Talk Dates into Cracking Open Their Crypto Savings

While Tinder pulls out, other companies enter the metaverse as it expands. Read:

Tomorrow Decentraland Is Launching The World’s First Metaverse ATM

Continue reading on DailyCoin

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16-08-2022 19:56:44 (UTC+7)

EUR/USD

1.0141

-0.0019 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (7)

Sell (2)

EUR/USD

1.0141

-0.0019 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

GBP/USD

1.2047

-0.0008 (-0.06%)

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↑ Buy

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Buy (7)

Sell (1)

USD/JPY

134.62

+1.29 (+0.97%)

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↑ Buy

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Buy (12)

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Indicators:

Buy (8)

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AUD/USD

0.6999

-0.0022 (-0.32%)

Summary

↑ Sell

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Buy (1)

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USD/CAD

1.2896

-0.0008 (-0.06%)

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Neutral

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EUR/JPY

136.51

+1.05 (+0.78%)

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EUR/CHF

0.9642

+0.0028 (+0.29%)

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↑ Buy

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Gold Futures

1,787.40

-10.70 (-0.60%)

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Silver Futures

19.915

-0.357 (-1.76%)

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Copper Futures

3.6128

-0.0047 (-0.13%)

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Crude Oil WTI Futures

89.42

+0.01 (+0.01%)

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Brent Oil Futures

94.91

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Natural Gas Futures

9.224

+0.496 (+5.68%)

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US Coffee C Futures

223.93

-1.57 (-0.70%)

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Sell

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Buy (1)

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Euro Stoxx 50

3,790.45

+0.83 (+0.02%)

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↑ Sell

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Buy (3)

Sell (9)

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Buy (0)

Sell (8)

S&P 500

4,297.14

+16.99 (+0.40%)

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Neutral

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DAX

13,836.26

+19.65 (+0.14%)

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FTSE 100

7,546.52

+37.37 (+0.50%)

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Sell

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Hang Seng

19,830.52

-210.34 (-1.05%)

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↑ Buy

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Buy (10)

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US Small Cap 2000

2,020.40

+7.30 (+0.36%)

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IBEX 35

8,482.50

+55.50 (+0.66%)

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Sell (5)

BASF SE NA O.N.

44.160

+0.100 (+0.23%)

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Bayer AG NA

53.96

+0.40 (+0.75%)

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↑ Sell

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Allianz SE VNA O.N.

179.60

+0.82 (+0.46%)

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Adidas AG

170.23

-2.71 (-1.57%)

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Deutsche Lufthansa AG

6.731

-0.003 (-0.04%)

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Buy

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Siemens AG Class N

111.12

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8.994

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 EUR/USD1.0141↑ Buy
 GBP/USD1.2047↑ Buy
 USD/JPY134.62↑ Buy
 AUD/USD0.6999↑ Sell
 USD/CAD1.2896Neutral
 EUR/JPY136.51↑ Buy
 EUR/CHF0.9642↑ Buy
 Gold1,787.40↑ Sell
 Silver19.915↑ Sell
 Copper3.6128↑ Sell
 Crude Oil WTI89.42↑ Sell
 Brent Oil94.91↑ Sell
 Natural Gas9.224↑ Buy
 US Coffee C223.93Sell
 Euro Stoxx 503,790.45↑ Sell
 S&P 5004,297.14Neutral
 DAX13,836.26↑ Sell
 FTSE 1007,546.52Sell
 Hang Seng19,830.52↑ Buy
 Small Cap 20002,020.40↑ Buy
 IBEX 358,482.50Sell
 BASF44.160↑ Sell
 Bayer53.96↑ Sell
 Allianz179.60↑ Sell
 Adidas170.23↑ Sell
 Lufthansa6.731Buy
 Siemens AG111.12↑ Sell
 Deutsche Bank AG8.994↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
(-10/ -10) # 1,639
SJC HCM6,600/ 6,700
(-10/ -10) # 1,659
SJC Hanoi6,600/ 6,702
(-10/ -10) # 1,661
SJC Danang6,600/ 6,702
(-10/ -10) # 1,661
SJC Nhatrang6,600/ 6,702
(-10/ -10) # 1,661
SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 19:56:46
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RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
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Dầu hỏa 2-K23.32023.780
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WTI$89.38-1.53-1.72%
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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