Cryptocurrencies
Senate Banking Head Blasts Super Bowl Crypto Ads for Lack of Transparency
- Brown says Super Bowl ads failed to mention trading risks
- Other countries have moved to clamp down on crypto ads
Senate Banking Chairman Sherrod Brown speaks during a hearing in Washington, D.C. on Feb. 15.
Photographer: Win McNamee/Getty ImagesThis article is for subscribers only.
Crypto was the breakout star of this year’s Super Bowl with attention-grabbing ads from companies, such as Coinbase Global Inc., FTX Trading Ltd. and Crypto.com. But not everyone was a fan.
Senate Banking Chairman Sherrod Brown at a hearing Tuesday condemned the promotions, saying they failed to warn investors of the potential risks of putting money into the white-hot asset class. “The ads left a few things out,” he said.