Eminem replaces Matt Damon, stepping up to the mic in Crypto.com ad

People • April 26, 2024, 11:31AM EDT

Published 1 minute earlier on

UPDATED: April 26, 2024, 11:35AM EDT

Quick Take

Global music star Eminem posted a new Crypto.com advertisement to X.
Crypto.com said the ad will premiere Saturday during the Los Angeles Lakers NBA Playoff game held at the Crypto.com Arena.

High-profile celebrities shilling for crypto making a comeback?

It's probably too early to tell, but in one of the splashiest examples in recent times of a megastar promoting crypto—after the FTX debacle, taking money to be a brand ambassador for crypto companies fell drastically out of favor—Eminem has lent his voice to a new TV advertisement for Crypto.com.

Eminem posted the ad to X on Friday, writing simply: "You know what it’s always been."

In a statement, Crypto.com said the ad "will premiere Saturday during the Lakers NBA Playoff game held at the Crypto.com Arena." It appears the cryptocurrency exchange also intends to plug its services with the ad at other sporting events, including the Formula 1 Miami Grand Prix and an upcoming UFC event.

"Fortune favors the brave," a slogan previously used by Crypto.com, is also emblazoned across the screen during the minute-long spot. Actor Matt Damon famously once appeared in a Crypto.com ad with the same slogan, even becoming the butt of an episode-long joke on South Park in 2022. After being ridiculed, Damon later said he did the ad because in order to support a water charity.

“Crypto.com has become one of the most recognized global brands by partnering with iconic people, places, and events," said Steven Kalifowitz, CMO at Crypto.com.

Major celebrities promoting crypto have been fairly infrequent since famous people like Tom Brady, Gisele Bündchen and Larry David took money to promote FTX before the exchange collapsed and its founder later went to jail.

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About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.