Crypto absent again from Super Bowl ads

Trending 2 weeks ago

Anyone hoping to spot crypto ads during this year’s Super Bowl will beryllium disappointed.

FOX Business has learned astir awesome cryptocurrency firms will erstwhile again beryllium connected nan sidelines during nan biggest trading arena of nan twelvemonth erstwhile nan San Francisco 49ers and nan Kansas City Chiefs look disconnected successful Las Vegas connected Sunday for Super Bowl LVIII.

While nan $1.7 trillion integer plus marketplace is successful a overmuch amended spot than this clip past twelvemonth during nan alleged "crypto winter," crypto companies don’t person nan money they erstwhile had for advertising, and those that do judge they tin amended walk their advertisement dollars distant from nan NFL spotlight.


Kraken, nan second-biggest crypto speech successful nan U.S., is not taking retired a Super Bowl ad. 

"The Super Bowl is simply a very U.S.-centric event, and nan adjacent activity of crypto users will travel from each astir nan world, not conscionable nan United States," Mayur Gupta, Chief Marketing Officer astatine Kraken tells FOX Business. "If nan past activity of crypto trading was each astir hype and FOMO (Fear of Missing Out), this existent activity has to beryllium rooted successful acquisition and consciousness for nan constituent and existent worth proposition of crypto arsenic a activity that will bring financial state and inclusion."

The U.S.'s largest crypto speech Coinbase is focused this twelvemonth connected directing money to lobbying Congress for broad integer plus authorities and making run contributions to crypto-friendly politicians successful Washington, D.C., up of nan 2024 elections. It is unclear whether nan company, who has been a past Super Bowl advertiser and runs TV ads frequently, will beryllium featured during Sunday's game. 

But it’s not conscionable nan exchanges that will beryllium missing from Sunday’s advertisement palooza, wherever hundreds of millions person been spent connected various commercials for beer, cars and snacks. Issuers of nan "spot" Bitcoin exchange-traded costs will not beryllium featured contempt a fistful of them launching TV commercials successful nan weeks starring up to nan SEC’s support of eleven caller spot Bitcoin ETFs connected Jan. 10, FOX Business has learned.

For instance, BlackRock, nan world’s largest plus head and supplier of nan iShares Bitcoin ETF, is sitting retired nan Super Bowl, group pinch nonstop knowledge of nan matter say.

Even crypto plus head Grayscale, which owns $21 cardinal successful assets successful its Bitcoin ETF and has launched a advertisement run successful New York City subways and airports nationwide, is not advertizing during Sunday’s large game, sources say.

While immoderate Bitcoin proponents whitethorn spot this arsenic a missed opportunity, it’s not astonishing that Bitcoin ETF commercials will beryllium absent from nan Super Bowl.


According to CBS, astir each its Super Bowl advertisement slots were sold retired by early November, and nan Bitcoin ETFs were not officially approved by nan SEC until 2 months later.

But macro factors are besides astatine work. The manufacture has been trim successful half since its bull tally successful 2021 that unwound pinch nan implosion of Sam Bankman-Fried’s FTX crypto exchange.

FTX was a salient advertiser during nan 2022 Super Bowl erstwhile it paid $6.5 cardinal to look alongside different manufacture giants for illustration Coinbase and The commercialized featured Larry David, who later confirmed that Bankman-Fried paid him $10 cardinal to prima successful nan 30-second advertisement promoting FTX arsenic "the adjacent large thing."

Just 9 months later, FTX descended into bankruptcy, and Bankman-Fried would get outed for spending stolen customer costs connected costly marque deals for illustration nan Super Bowl and nan naming authorities to nan Miami Heat arena, for which he agreed to ammunition retired $135 million.

Bankman-Fried has since been convicted connected 7 counts of fraud, conspiracy and money laundering and awaits sentencing successful March.

On apical of nan FTX debacle, regulatory uncertainty is still very overmuch apical of mind for galore crypto companies, meaning ineligible expenses return precedent complete trading and advertisement campaigns.


Coinbase, for instance, is locked successful a contentious court battle pinch nan Securities and Exchange Commission, which alleges nan speech is violating securities laws by operating arsenic an unregistered exchange, offering likewise unregistered securities products arsenic integer assets.

A confederate territory of New York judge will determine whether nan SEC tin move guardant pinch its lawsuit against Coinbase successful nan coming days.