Morning Minute: More Boos Than Cheers for Coinbase Super Bowl Ad
Coinbase was the only crypto company to advertise during Super Bowl LX, airing a 60-second ad styled as a karaoke singalong to the Backstreet Boys’ “Everybody,” with lyrics rewritten to convey Coinbase branding. While audiences initially enjoyed singing along, many reacted negatively once Coinbase’s logo appeared, with some watch parties immediately booing or falling silent. Coinbase embraced the controversy, claiming that sparking conversation demonstrated the ad’s success and that “crypto is for everybody.” However, ARK Invest sold over $22 million in Coinbase shares following the ad. The response highlights crypto’s ongoing image problem with mainstream retail audiences. Despite “economic freedom” as a central value proposition, crypto struggles to resonate with U.S. retail investors, especially given recent underperformance compared to traditional assets and high-profile setbacks. The event underscores the need for new messaging and a stronger brand image to regain mainstream adoption.
