With ads for cryptocurrency trading continuing to pop up on billboards and sporting arenas right around the world, there are growing concerns for the unregulated sector.
Hundreds of millions of dollars being poured into advertising campaigns, in a bid to “normalise” the digital sphere.
Crypto.com’s CEO told The Age sport is particularly appealing because it allows the company to connect with lots of normal, everyday people at one time.
But consumer advocates warn the “mainstreaming” of crypto trading apps is worrying.
Singapore-based Crypto.com has recently launched a massive campaign in every corner of the globe, vying to become the most recognised trading platform.
In 2021, the company paid more than US $700 million to change the name of the Los Angeles arena once known as Staples Centre, to the Crypto.com arena.
The app was also one of four major sponsors of the recent Oscars ceremony.
This all has experts concerned about the way companies are trying to appeal to mainstream audiences who likely have a minimal understanding of crypto.
