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News Report

Matt Damon Opens Up About His Infamous Commercial

2 mins
Updated by Kyle Baird

In Brief

  • Actor and producer Matt Damon has revealed the real reason behind his ad deal with
  • Damon's appearance in the infamous ad is making headlines amid tightening action by US SEC.
  • Damon was one of the first major celebrities to endorse crypto in late 2021.
  • promo

Actor-producer Matt Damon has revealed what he says is the actual reason behind his now-infamous ad deal with

Damon was among the first major celebrities to endorse crypto in late 2021. Commercial for the Benefit of Charity

When Matt Damon launched his cryptocurrency effort for the exchange, markets were just below their cycle peak. The American actor claimed he accepted the commercial to benefit his foundation. 

In an event for his upcoming movie ‘Air,’ Damon stated, “The story behind that for me, personally, was that we had a down year in And I did that commercial in an attempt to raise money for”

Damon disclosed that during the slump, he donated his entire salary to his non-profit. He expressed gratitude to for independently donating $1 million to the charity.

SEC Ramps Up Supervision After FTX Implosion

Damon’s appearance in the infamous ad is making headlines amid tightening action by the U.S. securities regulator. 

Matt Damon Ad

Last week, the Securities and Exchange Commission announced action against several celebrities, including Lindsay Lohan and Jake Paul. This was after acquisitions had surfaced in 2021 that actors and social media influencers heavily promoted the TRON network without clarifying that they were sponsored endorsements. 

The regulators have previously reprimanded for its crypto ads. The UK’s Advertising Standards Authority (ASA) took down a sponsored Facebook advertisement from last year. It was held that the ad failed to highlight the risk associated with investing in NFTs and omitted to make clear the fees that would apply.

Singapore-based was investing heavily in promotions and sports partnerships. not only splurged to feature in the Super Bowl, it previously inked a $700 million agreement to rebrand the Los Angeles Staples Center as the Arena.

However, the FTX implosion has been a blow to the sector. reportedly fired 2,750 employees in the last financial year. In January, the platform said it is reducing its global workforce by approximately 20%.


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