Coinbase Launches New TV Campaign; $COIN Price Soars

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Top US based crypto exchange Coinbase is attempting to change the narrative around cryptocurrencies as part of an upcoming television advertisement campaign. Interestingly, the ad campaign will be live in Washington DC, where a majority of the US lawmakers and regulators are based in. Brian Armstrong, the chief executive officer of Coinbase, shared some insights into how the advertisements would go. The exchange appears to be planning to shape the crypto market narrative instead of promoting its own products.

“It’s Time To Update The System”

In a short video message, Armstrong explains “how crypto moves America forward and why it’s the most important technology we have to create more economic freedom.” Overall, the crypto ad campaign is targeted at showacasing how the digital assets industry can help update the financial system. It’s time to update the system, the CEO added. Armstrong explained that there was no stopping the invention behind cryptocurrencies, as most countries began embracing the technology.

“Cryptocurrency, regardless of what you think about it, is not going anywhere. It can’t be uninvented. Most of the world is embracing this technology now to update their financial system.”

He also explained how the crypto market is associated with a perception about financial frauds and scams. Therefore, crypto is not just a means to transact but a useful technology for various walks of life, Armstrong added.

$COIN Price Soars

Meanwhile, the Coinbase price $COIN jumped in response to the news of the TV commercial campaign. The $COIN stock price saw an overall increase of around 6% since market opened on Monday. After a dip at the $49 level earlier in the first week of May 2023, the $COIN price had more or less maintained a sideways pattern around the $60 level.