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Crypto Millions on Super Bowl Ads Didn’t Drive App Downloads

  • Crypto-related firms with ads underperform on downloads
  • Coinbase still emerges as No. 2 on Apple’s app store ranking
Updated on

Cryptocurrency-trading platforms drew national attention with star-studded Super Bowl ads, a first-time appearance for many in the industry. However, it didn’t yet translate to a flood of new users on their apps.

Coinbase Global Inc., FTX Trading Ltd. and all released advertisements during the National Football League’s championship game between the Los Angeles Rams and Cincinnati Bengals on Sunday. Yet the exchanges and investing platform eToro all saw a decline in U.S. app store downloads over the week prior to Sunday, according to research firm Apptopia.