The decline in TV ad spending by crypto companies has also coincided with a lighter sports schedule since the end of the NFL season, America’s most-watched sport, in February. — AP
Matt Damon’s pitch to invest in crypto has disappeared from US television sets. Same goes for glitzy commercials starring LeBron James and Tom Brady.
The drop in national TV marketing by the industry in the US has coincided with the selloff in Bitcoin and other crypto assets, according to the TV-ad measurement company ISpot.tv Inc, which tracks the spots. Damon’s commercial for Crypto.com, which ends with him uttering “fortune favours the brave”, last aired in February during the Super Bowl. The four-month national campaign cost an estimated US$65mil (RM290.81mil), according to ISpot, exceeding the outlays by others in investment services, including giants such as Fidelity and Vanguard, over the same stretch.
