NEW YORK (AP) — How the mighty have fallen.
Cryptocurrency companies grabbed the spotlight during the 2022 Super Bowl, with commercials from a handful of newcomers to advertising’s biggest stage: FTX, Coinbase, Crypto.com and eToro. Some marketing experts dubbed it the “Crypto Bowl.”Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Here’s a look at the crypto companies that advertised in last year’s Super Bowl and where they stand now:Article contentCryptocurrency exchange FTX was one of biggest advertisers in last year’s Super Bowl, featuring ads that included celebrity comedian Larry David. While at the time FTX was the world’s second or third largest crypto exchange, it didn’t operate a large business in the U.S.
David, along with other celebrities such as football star Tom Brady and basketball star Stephen Curry, was named in a lawsuit that argued their celebrity status made them culpable for promoting the firm’s failed business model.Article contentWhile Crypto.com still is operating, the company is significantly less healthy than it was a year earlier.
Crypto.com said its layoffs were due to a “confluence of negative economic developments” but its CEO placed a significant amount of blame on the collapse of FTX.Coinbase had one of the weirder ads at least year’s Super Bowl, involving a floating QR code that would take users to a promotion where the company was giving away millions of dollars’ worth of cryptocurrencies.
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