Coinbase's $2 Million Ad Blitz Targets Latino Voters in US
June 22, 2024, 3:31 am
Coinbase, a major player in the crypto industry, has launched a $2 million ad campaign aimed at Latino voters in the United States. This move comes as part of a larger effort within the crypto industry to support lawmakers who are friendly towards their interests during the upcoming U.S. election cycle.
The ad campaign is just one piece of the puzzle, with the crypto industry already having spent tens of millions of dollars in U.S. elections this year. Their focus has been on down-ballot races, where they hope to defeat candidates who are advocating for more regulation of the industry.
One of the key messages in Coinbase's ad is the promotion of crypto alternatives to traditional remittance services. The ad features a young man sending money to his grandmother in Mexico, highlighting the cost savings of using digital stablecoins like USD Coin on the Coinbase Wallet platform.
The ad will be airing on Univision during the Copa America soccer tournament, with additional investment in California and Texas. The company is also targeting Washington, D.C. as part of their outreach efforts.
Former Los Angeles Mayor Antonio Villaraigosa has voiced support for the campaign, stating that the traditional financial system is failing communities of color by creating barriers to wealth-building at every turn.
This isn't the first time Coinbase has engaged in advocacy efforts. Last August, they helped launch Stand With Crypto, an organization for voters who own cryptocurrencies. The group has seen its membership grow to over 1 million members as of June.
Overall, Coinbase's ad campaign is a strategic move to engage Latino voters and consumers, while also positioning themselves as a key player in the evolving landscape of the crypto industry's political influence in the U.S.
The ad campaign is just one piece of the puzzle, with the crypto industry already having spent tens of millions of dollars in U.S. elections this year. Their focus has been on down-ballot races, where they hope to defeat candidates who are advocating for more regulation of the industry.
One of the key messages in Coinbase's ad is the promotion of crypto alternatives to traditional remittance services. The ad features a young man sending money to his grandmother in Mexico, highlighting the cost savings of using digital stablecoins like USD Coin on the Coinbase Wallet platform.
The ad will be airing on Univision during the Copa America soccer tournament, with additional investment in California and Texas. The company is also targeting Washington, D.C. as part of their outreach efforts.
Former Los Angeles Mayor Antonio Villaraigosa has voiced support for the campaign, stating that the traditional financial system is failing communities of color by creating barriers to wealth-building at every turn.
This isn't the first time Coinbase has engaged in advocacy efforts. Last August, they helped launch Stand With Crypto, an organization for voters who own cryptocurrencies. The group has seen its membership grow to over 1 million members as of June.
Overall, Coinbase's ad campaign is a strategic move to engage Latino voters and consumers, while also positioning themselves as a key player in the evolving landscape of the crypto industry's political influence in the U.S.