Super Bowl Crypto Ad Deals For LVII Fell Apart After FTX Collapse: Report

Super Bowl LVII on Feb. 12 will reportedly not have as many advertisements for cryptocurrency companies as it did in 2022 against the Philadelphia Eagles.

iiexclusivenews reports that according to a Feb. 6 Associated Press report.

There were four potential deals with crypto firms for $6 to $7 million Super Bowl commercials in 2023.

All of which fell through following the FTX bankruptcy filing in November.

According to Mark Evans, major crypto companies will have “zero representation” on Feb. 12.

When approximately 100 million people are expected to watch the football game.

Companies such as FTX, eToro, Crypto.com, and Coinbase debuted advertisements during Super Bowl LVI in 2022.

The FTX commercial, which aired roughly nine months before the company declared Chapter 11 bankruptcy.

In the aftermath of former CEO Sam Bankman-Fried being charged with fraud, comedian Larry David advised customers to “don’t miss out” on cryptocurrency.

David was later named in a class-action lawsuit for allegedly promoting the cryptocurrency exchange to investors without conducting any due diligence.

Other celebrities who have backed crypto companies, such as Matt Damon for Crypto.com and tennis star Naomi Osaka for FTX, have been chastised.

What You Should Know 

iexclusivenews understands that despite the AP report, gaming startup Limit Break announced on Feb. 6 that it would air an interactive advertisement during Super Bowl LVII.

In which it plans to give away dragon-themed nonfungible tokens, or NFTs.

The ad will seemingly not feature a celebrity, but rather include a QR code for viewers to scan.

FTX, Voyager Digital, BlockFi, and Celsius Network all declared bankruptcy after the 2022 market crash.

According to reports, the US Federal Trade Commission has opened an investigation into several crypto firms for “possible misconduct involving digital assets.”

In January, the governor of the Central Bank of Ireland stated that he would support legislation prohibiting the promotion of cryptocurrency projects to minors.