This article was originally written in early 2022 following Super Bowl LVI. It has been updated with a retrospective section covering subsequent events, including the collapse of FTX in November 2022.
The "Crypto Bowl" — February 2022
Super Bowl LVI, played on February 13, 2022, was quickly dubbed the "Crypto Bowl." For the first time in the game's history, six cryptocurrency-related companies purchased advertising slots at costs reported up to $7 million per 30 seconds of airtime. The companies included crypto.com, FTX Trading, Coinbase, E*Trade, Bitbuy, and eToro. For cryptocurrency enthusiasts at the time, the mass of high-profile ads seemed like confirmation that digital assets were achieving mainstream financial status.
The comparison to Super Bowl advertising as a cultural phenomenon was not lost on commentators — Super Bowl ads have become famous for their production value, humor, and ability to generate viral attention beyond the game itself. The audience of over 100 million viewers represented an opportunity to reach the crypto-curious population at scale.
What the Ads Said — and What Critics Said About Them
The messaging across the crypto ads shared a common theme. Rather than explaining what cryptocurrency is, how it works, or what risks it carries, the ads leaned heavily on what George Tung, founder of CryptosRUs, called "fear of missing out" (FOMO):
crypto.com — "Fortune favors the brave."
FTX Trading — "Don't miss out on crypto."
E*Trade — "Stop waiting. Start investing."
Bitbuy — "Don't be like Kyle and miss your opportunity again and again…"
Tung argued that the ads collectively missed a major opportunity to educate a curious audience about what cryptocurrency actually is, how to evaluate different coins, what the risks are, and how to approach the space responsibly. Instead, the advertising pattern was designed to create urgency and anxiety about being excluded from an opportunity — a classic marketing technique that is particularly risky when applied to volatile, complex financial instruments that most viewers had never held.
The parallel critics drew was to Super Bowl XXXIV in 2000, during the height of the dotcom bubble, when 14 internet companies collectively purchased about 20% of the game's advertising slots. Shortly after, the dotcom crash erased most of those companies. Only a handful — including AutoTrader and WebMD — survived to 2026. The implicit question in 2022: was this moment a sign of genuine mainstream adoption, or a sign of a market top?
A notably different message came from Binance's video ad on Twitter shortly before the game, featuring Miami Heat's Jimmy Butler: the ad explicitly told viewers not to trust the Super Bowl ads they were about to see, to recognize that the celebrities endorsing crypto didn't know their personal financial situation, and to do their own research before investing anything.
What Happened After: The FTX Collapse
The most striking postscript to the 2022 Crypto Bowl is FTX. One of the companies that paid for Super Bowl airtime to advertise its cryptocurrency exchange, FTX collapsed in November 2022 — roughly nine months after its Super Bowl appearance. The collapse revealed that FTX had been misusing billions of dollars of customer deposits. Its founder, Sam Bankman-Fried, was subsequently convicted of fraud. FTX's bankruptcy affected hundreds of thousands of users who lost access to their funds.
This outcome, more than any commentary at the time, illustrates what the FOMO-driven advertising missed: viewers who acted on "don't miss out" messaging and deposited funds at FTX suffered real financial losses. The principle that celebrities endorsing crypto products don't know your financial situation — and may not have done adequate due diligence themselves — proved prescient.
The Lesson That Remains Relevant in 2026
"Do your own research" is not a platitude — it is a minimum requirement for any financial decision in the cryptocurrency space. The number of active cryptocurrencies, platforms, and services continues to grow, and not all of them are solvent, legitimate, or aligned with users' interests. The questions to ask before any crypto engagement: Do I understand what I am buying? Do I control my own keys? Has this platform been independently audited? What happens to my funds if this company fails?
For Monero specifically: XMR's non-custodial model means there is no company holding your funds. Your wallet keys are yours. There is no FTX-style custodian risk. XMRWallet is free, open-source, and non-custodial — your keys, your coins.
Frequently Asked Questions
Is celebrity or high-profile advertising a reliable signal of a cryptocurrency's legitimacy?
No. The 2022 Super Bowl examples — particularly FTX — are useful illustrations of why celebrity endorsement and large advertising budgets are not indicators of platform solvency, security, or trustworthiness. Evaluating a cryptocurrency or platform requires examining its security audit history, custody model, proof of reserves, regulatory compliance, and community reputation — not its marketing budget.
