Why are there no crypto Super Bowl commercials?

Why are there no crypto Super Bowl commercials?

If you watched Super Bowl 56 you probably remember the absolutely obscene amount of crypto commercials that aired during the big game. There were so many that the game was dubbed the “Crypto Bowl.” But that is all changing this year (perhaps for the better?).

The biggest advertisers last year were FTX, Coinbase, Crypto.com, and eToro and none of them have ads this year

According to ESPN, this is what they spent on ads last year for the Super Bowl:

• Crypto.com spent $36.5 million
• FTX spent $36.7 million
• Coinbase spent $31.6 million
• eToro spent $7.2 million

Watch LeBron James in a Crypto commercial for last year’s Super Bowl

According to sportingnews.com, “This year, there not only will be fewer crypto commercials than last year’s blitzkrieg of ads, there won’t be any.”

This is due mostly to the industry being in a bad state financially. Who could have seen that coming? In 2022 and 2023 there have been lawsuits filed and bitcoin stock prices have fallen dramatically.

FTX, one of last year’s biggest advertisers, went bankrupt and the founder was indicted for fraud. It’s safe to say there won’t be an ad for them this year.

There were going to be some ads, according to executive vice president of ad sales Mark Evans (h/t sportingnews.com) but those ads fell through in November when the FTX fiasco hit the news.