In the wake of FTX and the market decline, crypto brands reposition themselves
Join Our Telegram channel to stay up to date on breaking news coverage Approximately a year ago, a few crypto industry heavyweights made sassy debuts on the Super Bowl ad lineup, airing pricey ads with slogans like “Don’t miss out” (FTX) and “Fortune favors the brave” (Crypto.com). Then the cryptocurrency market crashed and FTX filed for bankruptcy. Currently, businesses in the sector as a whole are utilizing market ing and PR initiatives to protect their brands , separate themselves from questionable players like FTX, and, in many cases, portray a friendlier face to both investors and regulators. As owners of valuable assets, they are confronted with a tremendous reduction in trust, according to Tom Wason, global principal at Wolff Olins, a brand strategy company that has worked with leading cryptocurrency firms. According to him, businesses in the space are attempting to maintain their current levels of growth—or survival—while reass...