Coinbase has recently released a new television ad that humorously highlights the outdated nature of traditional United States fiat currency, particularly the penny coin. In the ad, the penny is comically tossed into a bin and vacuumed, drawing attention to the fact that many are thrown away every year despite still being considered legal tender.
The crypto community has embraced the ad, using it as an opportunity to promote the benefits of digital currency and the need for a modernized financial system. Coinbase, a popular cryptocurrency exchange, has taken a light-hearted approach in their new visual advertisement, showcasing the potential for digital currency to replace physical coins like the penny.
In the ad, Abraham Lincoln’s likeness on the penny is animated, with the former president humorously advocating to be “removed from this scrap piece of metal” and transitioned into digital currency. This received a positive reaction from prominent figures in the crypto industry.
Coinbase’s advertising efforts have been praised for their creativity and messaging. David Marcus, CEO and co-founder of Lightspark, shared on social media that their ads continue to improve with each release, while Wendy O praised the marketing teams and suggested they deserve a raise.
However, this is not the first time Coinbase has released advertisements that challenge societal norms. In May 2023, they launched an ad explaining why crypto is the most important technology for updating the financial system in America. CEO Brian Armstrong addressed common misconceptions about crypto, such as it being solely a speculative asset or reckless trading.
While the popularity of Coinbase’s app on the Apple App Store has declined, the recent launch of spot Bitcoin ETFs has been positive news for the exchange. However, in the face of increasing regulatory measures against crypto, it is important for readers to verify facts independently and consult with professionals before making any decisions based on this content.
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