Kraken exec disappointed with Super Bowl’s global audience for crypto ads

Super Bowl LVIII is approaching, and the crypto community is wondering if there will be any crypto ads during the event, similar to last year. Kraken’s executive believes that the event’s focus on America conflicts with their global plans. FTX, a now-defunct crypto exchange, made a big splash during the 2022 Super Bowl with an ad featuring comedian Larry David, but the exchange collapsed just nine months later. David expressed regret for participating in the promotion. Mayur Gupta, Kraken’s chief marketing officer, stated in a recent report that crypto advertising should shift from hype to educating the public about its potential.

Gupta noted that the Super Bowl primarily targets an American audience, but he believes the next wave of crypto users will come from all over the world. The exchange prefers events with a more global appeal. The U.S. federal government aims to increase the global viewership of the Super Bowl this year, broadcasting the game in 190 countries and organizing watch parties in 30 locations abroad.

Speculation arose that with the approval of 11 spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), asset management firms might advertise to the Super Bowl audience. BlackRock, the world’s largest asset manager, reportedly did not secure any advertisement slots for its spot Bitcoin ETF product. VanEck, another approved applicant, expressed positivity about the absence of crypto ads in this year’s Super Bowl.

During Super Bowl LVII in 2023, following bankruptcy filings from several crypto firms and a market downturn, there were no crypto ads. Paul Hardart, a marketing professor, believes that this year’s ads will focus on “fun, humor, and entertainment” rather than artificial intelligence (AI) and crypto firms. The emphasis seems to be shifting away from these topics.

There is curiosity within the crypto community about whether there will be crypto ads during Super Bowl LVIII. Kraken believes that education and awareness of crypto’s value proposition should be the focus of advertising. The Super Bowl primarily targets an American audience, but the next wave of crypto users is expected to come from all around the world. It remains to be seen how this year’s ads will compare to previous ones and if they will feature any crypto references.