Is the trend of high-profile celebrities endorsing cryptocurrency making a comeback?

While it may be too early to determine, a recent example suggests a potential resurgence. Eminem, one of the biggest names in the music industry, has lent his voice to a new TV advertisement for Crypto.com—a move that marks a significant return to the spotlight for celebrity endorsements in the crypto space, especially after the fallout from the FTX debacle.

Eminem shared the ad on X on Friday, accompanied by a simple caption: "You know what it’s always been."

According to Crypto.com, the ad is set to premiere during the Lakers NBA Playoff game at the Crypto.com Arena on Saturday. The cryptocurrency exchange plans to further promote its services through the ad at other high-profile sporting events, including the Formula 1 Miami Grand Prix and an upcoming UFC event.

The ad prominently features the slogan "Fortune favors the brave," a phrase previously associated with Crypto.com. Notably, actor Matt Damon was also featured in a Crypto.com ad with the same slogan, a move that garnered attention and even became the subject of satire on South Park in 2022. Damon later clarified that he participated in the ad to support a water charity.

Steven Kalifowitz, CMO at Crypto.com, emphasized the brand's strategy of partnering with iconic individuals, venues, and events to enhance its global recognition.

Since the controversy surrounding FTX, where celebrities like Tom Brady, Gisele Bündchen, and Larry David were involved in promoting the exchange before its collapse and subsequent legal issues, major celebrity endorsements in the crypto space have been relatively scarce. However, Eminem's involvement suggests a potential shift in this trend.