Four cryptocurrency exchanges and trading platforms confirmed that they have not placed a Super Bowl ad in statements to Crypto Slate this week.

Coinbase, which aired an advertisement during Super Bowl LVI in 2022, said that it would not do so this year. 

The stock and crypto trading platform eToro, which also advertised during last year’s event, said that it would not advertise this year. It emphasized its digital presence as its reason for declining to advertise. 

Binance, meanwhile, criticized the idea that crypto firms should advertise during the event. Patrick Hillmann, the company’s Chief Strategy Officer, wrote:

“We’ve never run a Super Bowl ad because we don’t believe it’s an appropriate vehicle to introduce new users to crypto …. Unlike a light beer or a new car model, a lot of education has to be done with new users before they should consider investing in crypto.”

Kraken said that it would not advertise during the event.