Kraken and Other Crypto Giants Opt Out of Super Bowl Ads
US-based digital asset exchange Kraken, along with several other major crypto companies, has chosen not to advertise during the Super Bowl LVIII event. According to Fox Business, most crypto firms decided against running commercials during the San Francisco 49ers and Kansas City Chiefs match. Kraken’s chief marketing officer, Mayur Gupta, believes that the Super Bowl may not be the best platform to reach the next generation of crypto users, as it is primarily a US-centric event. He emphasizes the need for education and awareness about the true value proposition of cryptocurrencies. The report also mentions that many crypto firms lack the funds for advertising or prefer to allocate their resources elsewhere.
Coinbase, the largest crypto exchange in the US, did not run ads during the event, and neither did companies that issued Bitcoin exchange-traded funds (ETFs), including BlackRock and Grayscale. Although spot Bitcoin ETFs were approved by the US Securities and Exchange Commission (SEC) in January, Super Bowl ad spots were already sold out in November.
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