Four cryptocurrency exchanges and trading platforms confirmed that they have not placed a Super Bowl ad in statements to Crypto Slate this week.
Coinbase, which aired an advertisement during Super Bowl LVI in 2022, said that it would not do so this year. A Coinbase spokesperson wrote:
“While we are incredibly proud of our first national ad, which debuted at last year’s Super Bowl, we won’t be appearing in this year’s game.”
The stock and crypto trading platform eToro, which also advertised during last year’s event, said that it would not advertise this year. It emphasized its digital presence as its reason for declining to advertise. A representative for eToro said:
“[We] had no plans to advertise in this year’s Super Bowl. We’ve always been dynamic in our marketing approach. We’re multi-channel with a strong focus on online.”
Binance, meanwhile, criticized the idea that crypto firms should advertise during the event. Patrick Hillmann, the company’s Chief Strategy Officer, wrote:
“We’ve never run a Super Bowl ad because we don’t believe it’s an appropriate vehicle to introduce new users to crypto …. Unlike a light beer or a new car model, a lot of education has to be done with new users before they should consider investing in crypto.”
Hillmann went on to say that a 30-second ad spot is “not a good use of resources” and that such a promotion can attract users without properly highlighting risks.
Kraken said that it would not advertise during the event. A spokesperson wrote:
“We are not advertising at Super Bowl LVII. We’re always searching for creative ways to bring Kraken into the forefront of consumer’s minds, but right now we are focused on strategic execution.”
That representative said that Kraken is “emphasizing ways to do right by our clients” through security features, customer support, and service improvements.
Crypto Slate also reached out to Crypto.com, Robinhood, Gemini, Binance.US, Grayscale, ByBit, and Blockchain.com. Those companies did not return a response.
A report from the AP on Feb. 6 first suggested, without citing any company statements, that no crypto trading platforms had scheduled Super Bowl ads this year. Four crypto companies reportedly came close to arranging an ad deal but withdrew during November’s market crash. It is still unclear which firms were among those potential advertisers.
Last year, four crypto companies — Coinbase, Crypto.com, eToro, and the now-defunct FTX — advertised during Super Bowl LVI on Sunday, Feb. 13, 2022.
This year’s Super Bowl LVII will take place on Sunday, Feb. 12.
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