At one point about two years ago, Crypto . com was ubiquitous.
Their advertising budget was enormous, and they spent a lot of cash on marketing.
First, they invested the equivalent of a Hollywood movie budget and hired Matt Damon for one of the most cringey crypto ads ever.
It was embarrassing to watch, and made even more embarrassing because the timing was so bad it was almost comical.
The ad was filmed in 2021 and aired during the 2022 Super Bowl, also known as the Crypto Bowl.
When the ad aired, Bitcoin was $43k, give or take, and CRO was worth around $0.48, give or take.
Bitcoin is currently struggling to stay above $26k, while CRO is $0.05.
In a recent interview, Matt Damon said his whole salary from the ad was used to fund is charity NGO.
I have an opinion about that, but I guess do what you will with this bit of info.
Another spectacular waste of cash came when Cryptodotcom acquired the naming rights for Staples Center in Los Angeles, now known as the Crypto Arena.
This cost them $700 million.
And then it all went really wrong really quickly.
I personally don’t like their app. First, the UX design is horrible, and in my view that’s way too important to be overlooked.
Second, the way they slashed crypto rewards was a bit of a di*k move, to use a technical term.
Imagine staking $350 or $3,500 worth of CRO, which is now worth very little, and having your crypto rewards slashed on top of that.
I never did, I used to use the base card, but then they removed the rewards and now I don’t use it anymore.
Also, lest we forget, the company laid off roughly 60 percent of its staff since the ad.
Cryptodotcom is a cautionary tale.
It is a reminder that you can’t fully trust crypto exchanges because they’re centralized, which means things could very easily go south if and when the CEO and/or the company’s top execs make bad or dumb decisions.
Investing that much money at the height of the crypto boom was a bad decision.
Offering way too generous crypto rewards to entice customers only to abruptly slash them months later was a bad decision.
That Matt Damon ad was a bad decision.
The list goes on.
I also think that Cryptodotcom provided a friendly reminder that, generally speaking and leaving my mind open to exceptions, CEX-based and CEX-related tokens are absolutely worthless.
I don’t own any BNB, any CRO, any NEXO tokens. Nothing. The way I see it, it’s like buying expired milk.
bitcoinea 
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