Crypto Companies Pull Back on Marketing After Their Super Bowl Blitz

Months after top cryptocurrency brands spent hundreds of millions of dollars on advertising campaigns, sponsorship deals and Super Bowl ads in a bid to turn themselves into household names, many are now putting the brakes on their marketing spending.

The about-face comes amid a slump in the crypto markets that has wiped out roughly $2 trillion in value, increased scrutiny from regulators of some of the industry’s marketing practices and seen the collapse of “stablecoins” such as Luna and TerraUSD, which were promoted as being less volatile than other cryptocurrencies because their value is pegged to that of a government-backed currency such as the dollar.

 » Read More  » Read More

Tags: No tags

Comments are closed.