All in-game ads for the upcoming Super Bowl LVII have been sold out ahead of Sunday’s game between the Philadelphia Eagles and the Kansas City Chiefs, but there has been a shakeup since last year’s advertising bonanza — no crypto ads will be shown during the big game after last year’s championship game featured ads from FTX, Coinbase, Crypto.com, and eToro.
Following the spectacular collapse of FTX and its Democrat super-donor founder Sam Bankman-Fried, other centralized cryptocurrency exchanges are scrambling to shore up their reputation and contain the fallout.
The popular cryptocurrency exchange Crypto.com accidentally transferred $10.5 million AUD (~$7.2 million USD) to an Australian customer instead of sending the customer the $100 AUD (~$68 USD) they meant to refund. After not noticing the error for seven months, the exchange is not attempting to get its money back.
Coinbase, the cryptocurrency exchange that spent millions of dollars on Super Bowl ads just months ago, is now laying off thousands of employees as cryptocurrency prices crash yet again. Coinbase isn’t alone in this reversal of fortune — Crypto.com is laying off staff just months after its widely mocked Super Bowl ad starring Matt Damon.
As cryptocurrency continues to crash in value, Matt Damon is being mocked for starring in a commercial for Crypto.com less than a year ago.
Popular cryptocurrency trading platform Crypto.com announced this week that it lost around $34 million worth of customers’ cryptocurrency in a recent hack.
