Brian Armstrong shared some data on the effectiveness of the commercials.
The CEO said that they should modernize the financial infrastructure.
The biggest cryptocurrency exchange in the US, Coinbase, is planning a TV ad campaign to shift people’s minds about digital money. The majority of US politicians and regulators, where the campaign’s focus lies, are based in Washington, DC. Brian Armstrong, CEO of Coinbase, shared some data on the effectiveness of the commercials.
The exchange seems to be less interested in promoting its own products than in shaping public perception of the cryptocurrency sector as a whole. In a short video message, Armstrong explains “how crypto moves America forward and why it’s the most important technology we have to create more economic freedom.”
More Than Just a Transactional Tool
The overarching objective of the crypto advertising initiative is to show how the digital asset industry can aid in the development of a more advanced monetary system. The chief executive officer said that they should modernize the infrastructure. Since most countries have already started employing the technology, Armstrong argues that the innovation underlying cryptocurrencies is inevitable.
Concerns about financial scams and fraud are intertwined with the public’s impression of the crypto market, he said. Armstrong said that this proved crypto to be more than just a transactional tool, but rather a universally useful technology.
Meanwhile, the $COIN price increased on Coinbase as people caught wind of the TV ad campaign. Since the markets opened on Monday, $COIN stock has increased in value. At the time of writing it is up 7.56% and is now trading at $61.07. After a brief decline below the $49 level in the first week of May 2023, the price of $COIN has been mostly consistent around the $60 mark.