Binance and NBA star ad: ignore celebrity advice on crypto

Binance has used a basketball star to warn people about celebrity crypto endorsements

Miami Heat basketball player Jimmy Butler during a game                                 
Miami Heat’s Jimmy Butler appears in the Binance advert – Photo: Alamy
                                

Binance, currently the world’s largest cryptocurrency exchange by trading volume, has released a teaser advert featuring National Basketball Association (NBA) star Jimmy Butler. In the advert, the Miami Heat player advises people not to listen to celebrities when they tell you to invest in cryptos.

The full ad campaign is set to release on the 7 February. In the teaser, Butler warns the audience that on 13 February, the day of The Super Bowl, “you are going to hear some of the biggest names telling you to get into crypto”.

The Super Bowl is the annual championship game of the National Football League (NFL).

Butler goes on to say that the celebrities endorsing crypto in these adverts do not “know you or your finances, only you do”.

The NBA star further elaborates: “Bianance and I are here to tell you, trust yourself and, of course, do your own research, be on the lookout before the game.”

Binance said it has chosen celebrities for its ad campaign that are known for their honesty and independence.

Crypto.com and FTX have bought Super Bowl ad slots  

Crypto.com, the world’s fastest-growing crypto platform, and FTX, the cryptocurrency derivatives exchange platform, have both bought ad slots at this year’s Super Bowl.

FTX announced its ad campaign in October last year and this was followed by Crypto.com’s announcement in December.

Both crypto platforms have used well-known individuals to advertise their brands. FTX, in September 2021, announced that Stephen Curry, a three-time NBA champion and two-time NBA Most Valuable Player, was to become a global ambassador and shareholder of the company.

Curry, who plays for the Golden State Warriors, was not the first high-profile athlete to partner with FTX. Tom Brady, a quarterback for the NFL team the Tampa Bay Buccaneers, inked an endorsement deal with the exchange in June 2021.

Matt Damon’s debut in crypto ads

In October 2021, Crypto.com revealed that actor Matt Damon was to star in the company’s ad entitled “Fortune Favours the Brave”.  

The advert shows Damon explaining how some men and women have tried their utmost to achieve their aims but have failed, however, there are those who have “embraced the moment” and committed to their goal.

Damon has received a lot of criticism for taking part in the advert. US animation series South Park pokes fun at Damon and his Crypto.com ad in its latest season.

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