As preparations for Super Bowl LVIII go into full swing, cryptocurrency companies are reportedly scaling back on exposure, with a majority opting out of advertising during the much-anticipated event.

According to a report by Fox Business journalist Eleanor Terrett, the clash between the San Francisco 49ers and the Kansas City Chiefs in Las Vegas will have very little crypto presence, with the inflated costs of Super Bowl commercials ($7 million for 30 seconds) leading firms in the space to reassess how they deploy their marketing budgets.

Terrett revealed that heavyweights in the U.S. crypto exchange market like Kraken, will not be vying for airtime in the event this year.

Per her report, Kraken’s chief marketing officer, Mayur Gupta, has stated that the company’s approach is pivoting towards a more global audience, advocating for a movement that values financial liberty and inclusivity, rather than the American-centric exposure of the Super Bowl. He also reportedly emphasized the shift from hype-driven marketing to a more educational stance on the potential of cryptocurrencies.

Meanwhile, Coinbase, a past participant in Super Bowl advertising, is redirecting funds towards policy advocacy, with eyes set on influencing comprehensive digital asset legislation and supporting sympathetic policymakers in the 2024 elections. 

Its decision to potentially abstain from Super Bowl advertising underscores a larger, industry-wide reconsideration of marketing strategies. Ever since the collapse of FTX, the crypto industry has been marked by increased regulatory scrutiny and the sobering aftermath of high-profile missteps.

Despite recent approvals for new spot Bitcoin exchange-traded funds (ETFs), there will be a conspicuous absence of related ads during the event, traditionally a

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Author: Julius Mutunkei

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