All Those Celebrities Pushing Crypto Are Not So Vocal Now

In March, Crypto.com spent an average of $109,000 a day on digital advertising, according to estimates from the advertising analytics platform Pathmatics. In May, that has fallen to $24,669 a day.

Spending at FTX, one of the crypto companies that most aggressively used celebrity promoters, slipped to $14,700 a day this month from $26,400 a day in March, according to Pathmatics.

“We sort of created this arms race,” Brett Harrison, the president of FTX’s U.S. arm, said about the use of celebrity endorsers in an interview with The New York Times before the Super Bowl in February. Famous FTX brand ambassadors have included Mr. David, Mr. Brady and his supermodel wife, Gisele Bündchen, the golfer Albane Valenzuela, the football player Aaron Jones, the basketball player Stephen Curry and the baseball player Shohei Ohtani.

Article source: https://www.nytimes.com/2022/05/17/business/media/crypto-gwyneth-paltrow-matt-damon-reese-witherspoon.html