The marketing of the cryptocurrency industry has faced many problems over the past few weeks and months. From fraudulent projects being held accountable by regulators to withdrawing from several major promotional deals with big-name sports clubs. Almost a year ago, the Crypto.com trading platform managed to pull off a real coup with an advertisement in which prominent actor Matt Damon promoted a cryptocurrency exchange.
Since its release in October 2021, the place has been themed “Whoever dares winsRather, they were criticized and ridiculed in many places. Among other things, advertising was used in one of the episodes of the hit series Target South Park Even late-night brokers like Stephen Colbert weren’t letting it take the plunge after prices plunged in the cryptocurrency market mockingly Looking back at the “bravery” of cryptocurrency investors, Damon invoked.
At the time Damon promoted the trading platform, the market situation was exactly the opposite, because Bitcoin (BTC) with more than $60,000, while Ethereum (ETH) is able to offer a price of more than $4,000 and a total market capitalization of approximately $2.6 trillion. The US dollar was strong. While isolated crypto projects have made profits since then, both BTC and ETH have seen massive losses of more than 60% since the end of 2021, taking the market-leading cryptocurrency just under $20,000 and $1,500, respectively, in Posting time.
The amount Matt Damon received as a fee for his promotional appearance is unknown, although it was revealed that he made a $1 million donation to Water.org on his behalf. The well-known actor is by no means the only celebrity who has been promoting crypto projects in recent months. For example, actress Reese Witherspoon has been promoting the NFT range with her company. Reality star Kim Kardashian, in turn, went public with the crypto project EthereumMax, which was later found to be fraudulent and that is why fine millions yielded.
today @tweetKim Kardashian has accused us of illegally promoting crypto security.
This case is a reminder that when celebrities/influencers endorse investments, including crypto-asset securities, it does not mean that these investment products are suitable for all investors.
– Gary Gensler (@GaryGensler) October 3, 2022
In the high stage of the cryptocurrency market, Crypto.com also had bigger sponsorship deals until recently, but these deals have now partially increased in scope. to retreat or even cancel it entirely. As Cointelegraph reported, the trading platform will have one in September Multi-billion dollar deal with the UEFA Champions League Reverse.