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Why is the Crypto Community Buzzing Over Coinbase’s New Ad?

2 mins
Updated by Kyle Baird
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In Brief

  • Coinbase's ad features animated Abraham Lincoln advocating for digital currency, sparking praise from the crypto community.
  • The humorous approach highlights the inefficiency of physical currency, urging for a digital financial system upgrade.
  • The ad prompts discussions on the significance of cryptocurrency and challenges societal norms surrounding currency.
  • promo

Coinbase has introduced a new television ad that humorously pokes fun at the traditional United States fiat currency, portraying it in the form of a penny coin. In the ad, the penny is comically tossed into a bin and vacuumed.

The crypto community was quick to share their thoughts on the ad, driving home the message that it’s time for a digital upgrade to replace outdated physical currency.

Crypto Community Reacts to Coinbase New TV Ad

Cryptocurrency exchange Coinbase recently launched a new visual advertisement, taking a humorous approach towards how many US pennies are thrown away every year, even though “they are technically still money.”

Meanwhile, Abraham Lincoln’s likeness on the penny coin was animated. He was depicted as humorously advocating to be removed from the penny and transitioned into digital currency.

“Get me off this scrap piece of metal. Make me digital, let me soar!”

It received a positive reaction from prominent figures in the crypto industry.

Read more: Who Is Brian Armstrong? A Deep Dive Into the Coinbase Founder

David Marcus, CEO and co-founder of Lightspark, shared with his 122,200 followers on X (formerly Twitter) that Coinbase’s advertising continues to improve with each release.

“Coinbase ads are getting better and better. Solid work all around.”

Meanwhile, Wendy O told her 361,400 followers that the Coinbase “marketing teams deserve a raise.”

Coinbase Crypto Promotion Blitz

However, Coinbase has previously released advertisements that challenge societal norms.

Meanwhile, in May 2023, Coinbase released an ad explaining:

“Why crypto is the most important technology America has to update the financial system.”

Read more: vs. Coinbase: Which Crypto Exchange Is Right for You?

Armstrong commenced the broadcast by explaining the common misconception about crypto. He said that it is normally portrayed merely as a speculative asset. Additionally, he mentions the misbelief that people believe it is reckless trading.

However, this perspective is echoed by several US politicians. These are actively pursuing regulatory measures against crypto in response to this belief.

Recently, BeInCrypto reported that Coinbase’s popularity on the Apple App Store has declined. This comes despite the positive news of the recent launch of spot Bitcoin ETFs.

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.