Fortune Fails The Brave: Super Bowl Cryptocurrency-Related Companies Continue Curse

Chris Katje

November 28, 2022

The defending Super Bowl champion Los Angeles Rams are having a tough 2022 NFL season, but the team isn't the only one that might be suffering from a Super Bowl hangover.

Several notable cryptocurrency-related companies that ran ads during the big game or were involved in some way have seen 2022 as a year to forget.

What Happened: The 2022 Super Bowl saw a huge influx of cryptocurrency-related companies spending millions on Super Bowl commercials, which led to the nickname of The Crypto Bowl by some.

Among these companies were Crypto.com, Coinbase Global Inc (NASDAQ:COIN), BitBuy (in Canada) and FTX.

Since the airing of the big game on Comcast Corporation (NASDAQ:CMCSA)-owned NBC, the price of many cryptocurrencies have fallen.

Bitcoin (CRYPTO: BTC) is down significantly since the commercials aired, including ones encouraging people to consider investing in cryptocurrency.

FTX declared bankruptcy recently and saw Super Bowl commercial star Larry David among those sued for their role in promoting the company.

Crypto.com has been forced to cut jobs due to the crypto bear market.

SoFi Technologies Inc (NASDAQ:SOFI) didn’t air a Super Bowl commercial but saw its company mentioned plenty around the big game. SoFI has the naming rights to the California NFL stadium where Super Bowl LVI was played, which is also the home of the Rams and Los Angeles Chargers.

Related Link: Best FTX Alternatives: How To Keep Your Crypto Safe

Super Bowl Curse: When it was announced that there were a large number of cryptocurrency companies advertising as part of the big game, some compared it to the high number of dot-com companies that aired ads during the 2000 Super Bowl.

Many of the companies, such as OnMoney.com, that aired commercials during the Super Bowl in 2000 are no longer in existence, a potential foreshadowing to the cryptocurrency-related companies that aired ads in 2022 and now face questionable futures with the declining prices of cryptocurrencies such as Bitcoin.

Investors who bought Bitcoin or stock in the crypto companies related to Super Bowl LVI are likely regretting the move and down on the post-Super Bowl year, much like the Rams.

Coinbase shares are down 78% since the closing Friday prior to the Super Bowl.

SoFi shares are down 64% since the closing Friday prior to the Super Bowl and hit a new 52-week low of $4.41 on Monday.

Bitcoin is down 62% from its high on Feb. 13, 2022, the date of the Super Bowl, to the time of writing with a current price of $16,210.61.

The FTX Token (CRYPTO: FTT) is down 97% from its high on the day of Super Bowl LVI.

Similar to the dot-com commercials that aired and were for companies forgotten, Super Bowl LVI could go down in history for its cryptocurrency-related ads.

What's Next: Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA) has the rights to Super Bowl LVII and was commanding $6.5 million to $7 million for 30-second ad slots. No word on if cryptocurrency companies have already committed to the big game or will be sitting the next one out, also likely like the defending champion Rams.

Read Next: The Madden Cover Curse: What Happened To These 12 Players?

Photo: lassedesignen via Shutterstock

Recommended

Breaking: A Global Gold Lockdown Is Now Underway... - Ad

Elon Musk's Favorite A.I. Stock? - Ad

REVEALED: Elon Musk's Secret AI Facility? - Ad

Popular

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for June delivery fell 55 cents to $82.81 per barrel Wednesday. Brent crude for June delivery fell 40 cents to $88.02 per barrel.

Oil sprays from an ANA flight carrying 213 people as it lands in northern Japan

TOKYO (AP) — Oil sprayed from an All Nippon Airways plane as it landed Wednesday at Shin Chitose airport in northern Japan, but none of the 213 people on board was injured, officials said.

The No. 1 AI Stock of 2024 (Not Nvidia)

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Macy's names 2 independent directors as part of agreement with activist investor

NEW YORK (AP) — Macy's said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain.

Key Nvidia, Apple Supplier TSMC To Receive $6.6B From US Government For Arizona Plant

The funding, a part of the U.S. CHIPS and Science Act, will bolster TSMC's over $65 billion investment in three advanced fabrication plants in Phoenix, Arizona.

Bitcoin Gained 164% in 2023 but Crypto Millionaire Abandoned It for This

Bitcoin Gained 164% in 2023 but Crypto Millionaire Abandoned It for This - Ad

A certain crypto genius and millionaire has been praising Bitcoin since it was trading for $61. Even though it gained 164% last year, he's now recommending a different cryptocurrency. In fact, he's betting his own money on and buying it like crazy.

Courtroom Appearances By These Two Members Of Donald Trump's Family Could Help Him In Hush-Money Trial, Say Experts

As former President Donald Trump faces a hush-money trial, legal experts suggest that the presence of his wife, former First Lady Melania Trump, and daughter, Ivanka Trump, could significantly influence t

Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'

CNBC host Jim Cramer has outlined potential factors that could lead to further market decline, advising investors to be cautious about their buying and selling decisions.

Stop Buying AI Stocks!

Stop Buying AI Stocks! - Ad

...until you listen to what Luke Lango reveals in this video. Luke takes you straight to the offices of a tiny $3 A.I. company that he predicts could become as much as a $100 billion company soon. Meaning, early investors in this stock could get in for peanuts. He gives the name & the ticker symbol with no strings attached.

Olympic track uniforms spark online debate about who designed them and why they're so skimpy

PARIS (AP) — U.S. track and field athletes have around four dozen pieces to choose from when assembling their uniforms at the Olympics. The one grabbing the most attention is a high-cut leotard that barely covers the bikini line and has triggered debate between those who think it is sexist and others who argue they don't need the internet to make sure they have good uniforms.

Missouri's $2B Marijuana Market Hits Record Sales In March, Eyes Future Growth With Microbusiness Licenses

The Missouri cannabis market set a new monthly sales record in March, reaching nearly $125 million. According to the latest data from the Missouri Department of Health and Senior Services (DHSS), the adult-use cannabis sector contributed $108.7 million in March, with medical cannabis adding another $16 million, culminating in a total of $124.7 million.

Uranium Prices Soar 74% in 6 Months! The Uranium Bull Market Is Here to Stay!

Uranium Prices Soar 74% in 6 Months! The Uranium Bull Market Is Here to Stay! - Ad

In December 2023, 22 countries pledged to 3X their nuclear capacity. Sending these uranium stocks into a frenzy.

Atlantic City mayor: I'm committed to my family and city while dealing with daughter abuse charges

ATLANTIC CITY, N.J. (AP) — Atlantic City Mayor Marty Small said Thursday he remains committed to his family and to his city as he deals with charges that he and his wife

An NPR editor who wrote a critical essay on the company has resigned after being suspended

NEW YORK (AP) — A National Public Radio editor who wrote an essay criticizing his employer for promoting liberal views resigned on Wednesday, a day after it was revealed that .

"Gold's Final Bull Market Has Just Begun..."

"Gold's Final Bull Market Has Just Begun..." - Ad

The last time an event this seismic played out, gold surged 2,382%... yet most Americans had no clue it was even happening. Today, a Stansberry Senior Partner and former Goldman Sachs VP is pulling back the curtain on this strange story playing out in the upper echelons of world finance. And even if you've never owned an ounce of gold, this could impact everything from your investments to your mortgage.

Top 3 Financial Stocks That Are Ticking Portfolio Bombs

As of April 11, 2024, three stocks in the financial sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

How Much Will Taylor Swift's Net Worth Grow With 'The Tortured Poets Department'?

How much will Taylor Swift's 'The Tortured Poets Department' boost her net worth? Get expert insights here

The Mysterious Tale of "America's No. 1 Retirement Stock"

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

Hochul announces budget outline as lawmakers continue to hash out details

ALBANY, N.Y. (AP) — New York Gov. Kathy Hochul on Monday announced the framework of a $237 billion that includes broad plans to drive new housing construction, address the influx of migrants and crack down on .

Over $1M Bet On This Consumer Cyclical Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.

2X Demand Crisis Sends Uranium Prices Soaring 74%

2X Demand Crisis Sends Uranium Prices Soaring 74% - Ad

Double demand crisis rockets Uranium prices to their 16-year all-time high.

A strong quarter for Wall Street lifts Goldman's first-quarter results

NEW YORK (AP) — Goldman Sachs said it saw a double digit rise in its first quarter profits on Monday, lifted broadly by the stock and bond markets' performances in the first months of the year.

Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds

Dogecoin killer Shiba Inu (CRYPTO: SHIB) has experienced a significant surge in its burn rate, increasing by an impressive 172%.

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon - Ad

Some are calling this the most promising DeFi project since Ethereum itself. Here's the #1 DeFi Coin Set to Soar. While Bitcoin grabs headlines, this lesser known DeFi coin is quietly gearing up for a monster rally. Experts say now is the time to buy before it reaches escape velocity.

Netflix Stock Sized Up By 7 Analysts Post Q1 Results: 'Pivot From A High-Growth, Low-Profit Business To A Slow-Growth, High-Profit Business'

Streaming leader Netflix reported first quarter financial results that were higher than estimates. The company's outlook and decision to stop reporting subscriber figures are weighing on analysts.

EU releases blocked funds of $6.7 billion to Poland as part of its post-pandemic recovery package

WARSAW, Poland (AP) — disbursed 6.3 billion euros (about $6.7 billion) to Poland as a part of the 27-nation bloc's post-pandemic recovery fund, the biggest single transfer ever to the country, a government minister said Monday.

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024 - Ad

Early Bitcoin Millionaire Charlie Shrem just revealed his five little-known crypto coins that he believes could create generational wealth over the next 12 months. What's more, some of these tiny cryptos he's discovered trade for less than $1!

Latest Bitcoin Halving Could Cost Miners Billions Of Dollars In Revenue: Report

On Friday, the Bitcoin (CRYPTO: BTC) network underwent its fourth halving since 2012, a pivotal event that halved the mining reward — the amount of Bitcoin awarded

NY AG Letitia James Seeks To Void Trump's $175M Bond In Civil Fraud Case

The New York Attorney General Letitia James' office has moved to invalidate the $175 million bond secured by former President Donald Trump.

AI Destroying China

AI Destroying China - Ad

China is in deep trouble. Their economy is crumbling. Money is pouring out of the country. And now this... A small handful of artificial intelligence stocks have the power to put the nail in China's coffin. Find out the three AI stocks you need to consider buying right now.

Tesla shares tumble below $150 per share, giving up all gains made over the past year

Tesla's stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from and steep discounts intended to lure more buyers.

Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio This Quarter

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.

One Crypto Can Change Your Financial Life

One Crypto Can Change Your Financial Life - Ad

The catch is you won't be able to become a millionaire by buying Bitcoin today. There are five little-known coins I've discovered that I believe will skyrocket over the course of the next few months.

Elon Musk Reacts To NPR CEO's Remarks On Freedom Of Speech: 'Super-Powerful AI Programmed In This Way Has Severe Civilization-Level Risk'

Musk, the CEO of Tesla Inc and SpaceX, reacted to a post by venture capitalist Marc Andreessen on Wednesday, warning of the "civilization-level risks" posed by super-powerful AI.

Russia Threatens Retaliation Over Potential Seizure Of Frozen Assets To Aid Ukraine

This development follows the ongoing disputes between Russia and Ukraine, with Russia asserting to have captured a second eastern Ukrainian village within two days, a claim Ukraine refutes.

A.I. "Perfect Storm" Could Send THESE Stocks Soaring

A.I. "Perfect Storm" Could Send THESE Stocks Soaring - Ad

If you're wondering whether you should try to make money from investing in A.I... Your timing is now perfect. A little-known investor whose performance beat out 15,000+ other experts in 2020 has identified an opportunity in the A.I. space. He's calling it A.I.'s perfect storm.

Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. (NASDAQ:COIN) and NVIDIA Corp. (NASDAQ:NVDA). The COIN Trade

TikTok Sale Or Ban? Social Media Giant's Future Hangs In Balance As House Passes Controversial Bill

On Saturday, the U.S. House of Representatives passed a bill that could significantly impact the future of TikTok in the U.S.

Shhh! This Is One Great Coin...

Shhh! This Is One Great Coin... - Ad

Shhh! I truly believe this crypto could be one of the top earning cryptos of all time... In fact, in the coming bull run... this one coin could have the potential to bank 10x... 50x... and even 100x.

What Is The Most Undervalued MANGO (Semiconductor) Stock Right Now?

MANGO stocks seek to replicate FANG success in semiconductor sector, with Nvidia leading (+220.78%) and ON Semiconductor most undervalued (+16.05 P/E, 3.72 EV/Sales).

Trending Now