Crypto Companies Slash Ad Spending By 90% Amid Market Jitters
Numerous crypto companies are slashing their marketing budgets, despite the need to regain customer confidence in the asset class, which has fallen in recent months. After spending millions on multiple ad campaigns and Super Bowl commercials, many businesses are now reducing their advertising dollars because of the continued market instability.
Ad spending on TV has also been down: Crypto.com’s marketing expenses decreased to $2.1 million in May, from $15 million in November of last year, while Gemini’s marketing campaigned was cut back to $478,000. The Journal article also cited a fall in the industry’s huge commercial spenders, including appearances by prominent Hollywood celebrities and sponsorships that would place big names on sporting arenas in Los Angeles and Miami.The decrease follows a severe downturn in the bitcoin markets.
Source
https://t.me/Bitcoin_NewsTg
