Shortly after Bitcoin reached its all-time high of $69,000 in November 2021, the cryptocurrency industry was in euphoria. One of the best examples was the Super Bowl the following year, where several realtors battled each other to win customers with ads for millionaires.
However, the following period was marked by a major drop in Bitcoin and other cryptos, which again made such companies headlines, but this time for their massive layoffs.
Moving on, some even broke between the 2022 and 2023 Super Bowls, as was the case with FTX. In the previous edition, the brokerage bet on a Hollywood production with actor Larry David, but that ended up being a joke.
“— As I said, it is FTX, the safest and fastest way to get into cryptocurrencies.
“I don’t think so, and I’m never wrong about these things, ever.”
Larry David predicted the demise of FTX in a commercial for FTX pic.twitter.com/ZoQavJG3z1
—LilMoonLambo (@LilMoonLambo) November 9, 2022
The full commercial was available on FTX’s YouTube channel, but the exchange removed all videos after filing for bankruptcy.
No cryptocurrency advertising in Super Bowl 2023
While the 2022 Super Bowl was dubbed the “Crypto Bowl” because it featured so many cryptocurrency industry advertisers, the game is different this year. According to US media reports, not a single dollar of the $1.88 billion for Super Bowl LVII came from brokers.
Besides being removed from the sports sector itself following the bankruptcy of FTX – which broke contracts with NBA, F1 and eSports teams – the crisis in the sector is an indication that brokers did not even try to approach.
Coinbase shares, for example, are down 66.4% since their famous 30-second video of a QR code floating on screens and big screens.
Crypto.com, another one that was present in the last Super Bowl with LeBron James, not only canceled partnerships, but also laid off thousands of employees in recent months. Layoffs have continued this year, even though Bitcoin is up nearly 40% since January 1.
In contrast, some investors celebrated that cryptocurrency exchanges will not appear in this year’s Super Bowl, noting that the previous edition was a sign that Bitcoin was on the brink of collapse. Therefore, they now believe that the opposite can happen.
Finally, Super Bowl LVII takes place this Sunday (12) at 8:30 PM in Brasília time, with the Philadelphia Eagles and Kansas City battling it out for the title.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
