Once A-list celebrities start advocating for some cultural phenomenon en masse, it’s probably too late to get in on the ground floor. The broader crypto world was suffering from a bit too much success heading into this year, and accordingly, spending on TV advertisements by crypto companies reached a peak within the first two months of 2022, according Bloomberg.
In January and February, for example, firms like Coindesk, Crypto.com, and FTX, among others, spent a collective $125 million on TV spots. Compare that figure ($85 million stemming from February spending) to this past July, in which only a paltry $36,000 was used towards ad spending, mirroring the nose dive in crypto valuations and a renewed distrust in the industry.
