Crypto Firms Abstain from Super Bowl Advertising
Several cryptocurrency exchanges and trading platforms confirmed that they won't air a commercial during the upcoming Super Bowl.
Coinbase advertised during the previous Super Bowl and said they would not participate this year. eToro, another platform promoted last year, stated they have no plans to advertise in this year’s Super Bowl and prefers to focus on its strong online presence.
Binance criticized the notion that crypto companies should advertise during the event, with their Chief Strategy Officer, Patrick Hillmann, stating that a 30-second ad is not an effective way to educate potential users about the complexities of cryptocurrency.
Kraken also stated that they won’t be advertising in this year’s Super Bowl and are focused on improving their services for clients.
AP reported that no crypto trading platform scheduled a Super Bowl ad this year, with some companies withdrawing after the market crash in November.
Last year, Coinbase, Crypto.com, eToro, and FTX advertised during the Super Bowl, but FTX was no longer in operation. The upcoming Super Bowl LVII will take place on February 12, 2023.