- The bitcoin crash and FTX implosion massively dented the crypto advertising boom.
- A handful of companies are advertising through the crisis in a bid to reassure skittish investors.
- Crypto marketers say there’s an opportunity to get more bang for their buck as ad prices have dropped.
The FTX calamity has been infectious, already imperiling crypto lenders and resulting in BlockFi’s late November bankruptcy.
The crypto community faces a “huge trust problem,” said Shane Rodgers, a former investment banker-turned-CEO of PDX Advisors LLC, a company that’s created its own proprietary digital token and is set to launch a crypto digital wallet.
Even before the FTX meltdown in early November, the crypto industry faced a crisis of confidence, and many crypto companies started betting on marketing to position themselves as the adult in the room.