Tinder won't enter the cryptocurrency market with its own token called "Tinder Coin" due to "mixed results from testing" and the platform's disappointing second-quarter earnings, TechCrunch reports, citing Match Group, the owner of Tinder.
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Match Group CEO, Bernard Kim, acknowledged that the firm's decision to pause the efforts with the cryptocurrency was "frustrating," adding that Tinder will now focus more on launching new short-term subscription in the fall.
Kim declined to elaborate if Tinder abandoned the cryptocurrency project forever, but noted that the company wants to develop digital goods and services in the first place before rolling out any digital currency.
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