Top Crypto Exchanges Shun Super Bowl Ads

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As the highly anticipated Super Bowl approaches, the spotlight usually shines on extravagant advertisements, but this year, the crypto industry is notably absent from the lineup. Reports indicate that major crypto exchanges like Kraken and Coinbase have chosen to forgo advertising during the big game.

This marks a departure from previous years dominated by crypto-linked ads. In 2021 for instance, FTX secured Super Bowl ad spot, to promote crypto to no fewer than 92M viewers. This year’s game which is anticipated to draw tens of millions of viewers, will feature major companies seeking to draw attention—but not cryptocurrency exchanges.

Marketing Trends and Celebrity Influence In Crypto Industry

The decision comes amidst a shift in marketing trends, with a focus on celebrity overload and targeted advertising towards younger and predominantly female audiences who may not have seen a Super Bowl game.

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The demographic composition of the audience as well as its size will be significantly impacted in part by celebrities like Taylor Swift. However, although her expected presence at the games has boosted viewership and attracted attention from beauty brands, top crypto exchanges are not attracted.

Industry insiders suggest that this change reflects a broader strategy in crypto marketing, emphasizing education and awareness over flashy promotions. The true value proposition of crypto, they argue, lies in its potential to drive financial freedom and inclusion, rather than merely capitalizing on hype.

According to reports, prominent cryptocurrency companies like Coinbase and Kraken are choosing not to participate in Super Bowl commercials.

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Crypto’s Focus on Regulatory Goals

While some exchanges have opted out of Super Bowl advertising, others like Coinbase are redirecting their efforts towards lobbying Congress for comprehensive digital asset legislation. This strategic shift signals the evolving priorities within the crypto industry, moving beyond short-term promotional tactics to focus on long-term regulatory goals.

Market Resurgence amidst Regulatory Developments

Meanwhile, in the cryptocurrency market, Bitcoin has experienced a resurgence, propelled by the recent approval of spot bitcoin ETFs by the US Securities and Exchange Commission (SEC). Bitcoin’s price surge past $48,000 marks a significant milestone, reaching levels not seen since March 2022.

Despite concerns about potential price pullbacks and outflows from investment vehicles like the Grayscale Bitcoin ETF (GBTC), Bitcoin has had its best week since December 8, with a 10% increase in price over the last seven days. Ether has also performed well, achieving its best week since January 12, signaling a positive outlook for the broader crypto market amidst changing advertising strategies and regulatory developments.

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