Binance Hires NBA Star to Warn Against Celebrity Ads

NBA’s Jimmy Butler says ‘trust yourself’ in crypto exchange’s Twitter post ahead of Super Bowl

article-image

Source: twitter.com/binance

share

key takeaways

  • Miami Heat Forward Jimmy Butler urges people to ‘do your own research’ about crypto
  • Crypto.com and FTX will reportedly run ads during the Super Bowl on Feb. 13

Binance has used a celebrity to tell prospective crypto users not to listen to celebrities. 

In a Twitter post on Wednesday, Binance shared a video with five-time NBA All-Star Jimmy Butler, who warned that people will be told by celebrities to get involved in crypto on Feb. 13, the day of the Super Bowl in the US.

The Wall Street Journal reported in December that crypto companies Crypto.com and FTX would be buying ads for the NFL championship game.

Spokespeople for the firms have declined to comment on specific marketing plans around the event.

“They don’t know you or your finances; only you do,” Butler said of celebrities in the video. “Binance and I are here to tell you, trust yourself and, of course, do your own research. Be on the lookout for more before the game.”

A Binance spokesperson told Blockworks the crypto exchange would be teaming up with Butler and other celebrities that are “known for their honesty and independence” to remind consumers of their financial freedom.

The firm is set to reveal more about the campaign next week, the representative added.

In addition to the reported Super Bowl ads, crypto firms have utilized celebrities as a way to build brand awareness over the past year. 

Crypto derivatives exchange FTX partnered with Tom Brady, Kevin O’Leary, Stephen Curry and Shohei Ohtani, among others, to help build its brand in 2021. 

In a year capped off by buying the naming rights to what was formerly the Staples Center in Los Angeles as part of a 20-year, $700 million deal, Crypto.com also began running a television commercial featuring actor Matt Damon. 

Voyager Digital teamed up with Nascar driver Landon Cassill and NFL tight end Rob Gronkowski last year. 

Not all companies in the space are looking to celebrity deals as a way to bolster brand awareness. 

WisdomTree CEO Jonathan Steinberg said the asset manager would be sticking to “lean marketing principles” when discussing the firm’s upcoming digital assets consumer app during an earnings call last week.  

“We’re not going to put our brand on a sports stadium,” he said. “We’re not going to hire Matt Damon to be in our TV commercials.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

hivemapper.jpeg

Research

We believe crypto market participants overlook Hivemapper’s fundamental potential due to a poor understanding of both the niche map data market and Hivemapper’s positioning relative to incumbents. Hivemapper’s token model catalyzes both a cost and product advantage via unmatched map freshness and near real-time accuracy, which is its wedge into a market characterized by stale data and high data collection costs. Its current and potential future product suite may represent one of the strongest possibilities for PMF in crypto today.

article-image

The Department of Justice and Commodity Futures Trading Commission announced back-to-back lawsuits against KuCoin Tuesday

article-image

Judge Failla found that Coinbase didn’t operate as an unregistered broker in offering its wallet service

article-image

A fund by Laser Digital offers investors exposure to the Polygon network, while a new 21Shares ETP focuses on staking rewards from Toncoin

article-image

Sponsored

The TRON network’s integration into Dune brings a wealth of data and insights to the fingertips of users

article-image

A BTC futures fund offered by Hashdex and Tidal Investments has gotten regulatory clearance to hold bitcoin directly

article-image

At launch, Chain Signatures will be compatible with Bitcoin, Ethereum and Cosmos network chains, as well as DogeCoin and XRP Ledger