FTX: has the Superbowl banned crypto ads?

The last Super Bowl was characterized by flashy and star-featured multi-million dollar ads from firms such as Coinbase, Crypto.com, and FTX amongst others but this year, something is different. What has changed? 

According to reports, Crypto firms have been excluded from this year’s round of Super Bowl commercials after a brutal series of events starring FTX. 

The upcoming Super Bowl, scheduled for Sunday, January 11th,  won’t feature a single crypto ad, as firms contend with a wave of layoffs, bankruptcies, and unprecedented legal scrutiny. The series of events that eventually led to the arrest of founder and former CEO of FTX, Sam Bankman-Fried, allegedly responsible for ripping customers off billions was a major factor.

Regarding the situation, Fox Sports’ Executive Vice President of Ad Sales, Mark Evans said to the Associated Press, “there’s zero representation in that category on the day at all”.

Prior to the FTX saga, two crypto firms had already booked and wrapped up their commercial spots in this year’s Super Bowl, while two others were “on the one-yard line”, according to Evans. But these deals have “evaporated” as the extent of FTX’s troubles came to light.

As part of a major marketing endeavor meant to help the firms, as well as the crypto sector as a whole, gain mainstream publicity, Crypto firms, including FTX, purchased Super Bowl ads last year. The Super Bowl is one of the most-watched and popular events in the United States each year, as the event attracted around 100 million viewers last year.

But the FTX situation may have sealed the door to future advertisements on the program. The Infamous Former CEO of FTX, Bankman-Fried has been placed under house arrest with the possibility of facing about 115 years in prison if he is found guilty of major fraud allegations.

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