the 60 second ad It features a floating, colorful QR code that bounces around the screen, similar to the bounce DVD logo. The QR code directed people to a link offering $15 in bitcoin to those who signed up for a Coinbase account before February 15. The ad proved so popular that the app crashed for about an hour.
Coinbase got more than 20 million visits to its landing page in a minute and engagement that was six times higher than previous benchmarks, Sorojit Chatterjee, Chief Product Officer, Coinbase, wrote on twitter. He said it was “historic and unprecedented”.
Coinbase stock It took a heavy hit along with other companies that were recently taken up for public offering as their shares are down 23% this year. Investors have been dumping some riskier stocks as the Federal Reserve prepares to start raising interest rates.
Cryptocurrency firms splashed out on advertising during Sunday’s match, as the industry ramps up efforts to attract sports fans. FTX, another crypto exchange, featured comedian Larry David. Meanwhile, Crypto.com – which recently bought the naming rights to Staples Center in Los Angeles, Now Crypto.com Arena – I got LeBron James on board.
Bitcoin is trying to rally after a few tough months. Its price rose 11% in February after sharp declines in December and January. It was last traded near $42,600 after hitting an all-time high of $69,000 in November.
– Julia Horowitz of CNN Business and Reuters contributed to this report.