In Brief:
- Binance warns against celebrity ads in its new campaign with NBA star Jimmy Butler.
- The move comes just before the Super Bowl, during which rivals FTX and Crypto.com will run advertisements.
Global crypto exchange Binance warns against celebrity crypto ads in its new campaign, ahead of the upcoming National Football League Super Bowl championship game.
Binance spread the word through NBA star Jimmy Butler, who warned, “On February 13, you will hear some of the biggest names telling you to get into crypto, but they don’t know you or your finances. Trust yourself and, of course, do your own research.”
The move comes after Binance’s rivals FTX and Crypto.com reportedly would be buying ads for the NFL championship game scheduled for February 13. Spokespeople for the firms have denied commenting on such marketing plans around the event.
However, a Binance spokesperson said that the company will be collaborating with Butler and other celebrities that are known for their honesty and independence to remind their customers of their financial freedom. The firm will reveal more about this campaign in the coming week.
In addition to the Super Bowl ads, crypto exchanges and firms are teaming up with celebrities as a way to build brand awareness and reputation over the past year.
Last year, Canadian Businessman and Shark Tank investor, Kevin O’Leary and FTX announced a long-term partnership. Major League Baseball superstar Shohei Ohtani also joined FTX as their global ambassador just two months ago.
Also, Crypto.com launched an ad blitz spearheaded by Hollywood actor Matt Damon, as the digital platform aims to gain customers in over 20 countries.
