Here’s Why You Won’t See A Single Crypto Super Bowl Ad This Year – SlashGear

According to the report, well before the game was set to air, crypto companies had committed to several ad slots that would run as long as 60 seconds. One of those companies was FTX, but it reportedly backed out following its controversial downfall.

For the unaware, FTX underwent an ugly bankruptcy and its members are facing criminal investigations after it was found that liquidity trading firm Alameda Research – owned by the same founder – misappropriated funds it gained through its FTT holdings to facilitate other ventures. Once a leading force on the frontier of a crypto boom, the company instead shed billions of dollars, almost overnight.

But FTX isn’t alone, apparently: other crypto companies have pulled out in the midnight hour, reports SBJ. As of writing, it appears crypto ads will be a complete no-show. It’s tough to say exactly why without a shortlist of names, but some may attribute it to the shrinking confidence in the space overall, sentiments that were already brewing well before the FTX scandal came to light.

The crypto market has also been rather bearish of late due to concerns about the impact of anticipated regulatory handcuffs incoming, not to mention uncertainty surrounding the state of the world’s economy in general. There’s been a promising bounce back of value for many top assets in recent weeks, however, including 30-40% month-over-month recoveries for Ethereum and Bitcoin, both of which suffered significant crashes from astronomical all-time highs in the past year.