The crypto industry had a strong presence in last year's Super Bowl LVI, with companies like FTX, Crypto.com, and Coinbase, among others, buying ad spots. However, with the current bankruptcy proceedings and fraud charges facing some of these companies, all crypto businesses have backed out of Super Bowl LVII.
Decline of Crypto Industry Leads to Absence of Crypto Ads in Super Bowl LVII
In last year's Super Bowl, celebrities like Matt Damon and LeBron James endorsed crypto investment, with Bitcoin valued at over $42,197.52. However, the decline in crypto prices and the bankruptcy of some companies have resulted in the absence of crypto advertisements in this year's Super Bowl. Although Fox Sports won't feature any crypto ads, local ads can still be purchased for less than the $7 million national spots.