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Coinbase Tremendous Bowl Advert Crashes Its App – Investopedia

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Throughout the telecast of the Tremendous Bowl on Feb. 13, 2022, cryptocurrency exchange Coinbase International, Inc. (COIN) ran an advert that generated such large visitors that its app crashed. For a full 60 seconds, the advert consisted of a colourful bouncing QR code that, when scanned, introduced the consumer to a promotional web site the place, as a part of its “Much less speak, extra Bitcoin” marketing campaign, new prospects who enroll by Feb. 15, 2022, will get $15 value of Bitcoin (BTC).

Though the Coinbase outage lasted just a few minutes, it despatched the corporate’s inventory plunging by as a lot as 5% previous to the opening of buying and selling on Feb. 14, 2022. Nonetheless, Coinbase inventory opened at $193.49, solely marginally beneath the earlier shut of $194.53, and was up by as a lot 3.8% in morning buying and selling, ultimately settling again to a acquire of roughly 1.7% by mid-morning.

Key Takeaways

  • Cryptocurrency change Coinbase ran a Tremendous Bowl advert that marketed free Bitcoin for brand spanking new accounts.
  • The heavy response brought about its app to crash for a couple of minutes.
  • Coinbase inventory fell previous to the open on Feb. 14, 2022, however posted a acquire in morning buying and selling.

Tremendous Bowl of Crypto

Different crypto-related firms additionally used the 2022 Tremendous Bowl to advertise themselves, their merchandise, and tasks. Amongst these had been Crypto.com and FTX Exchange. In the meantime, Meta Platforms, Inc. (FB), the mother or father firm of Fb, was one among a number of firms that determined to have some enjoyable at Coinbase’s expense.

Poking Enjoyable at Coinbase

Shortly after the Coinbase advert aired, Meta’s Quest account tweeted its personal bouncing QR code that linked to a Foo Fighters-led digital actuality (VR) afterparty that it already had deliberate for after the sport. The tweet stated: “Hopefully this does not break.”

Those that tried to entry the Coinbase app whereas it was down acquired a display saying: “Effectively, that was extra standard than we thought. We want a fast trip, however don’t fret. We’ll electronic mail you when issues get again to regular.”

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