Coinbase releases a $2 million advertisement aimed toward US Latino voters.
Source: Reuters
June 20, New York – Coinbase told Reuters that it began a $2 million ad campaign on Thursday aimed at Latino voters. This is part of the cryptocurrency industry’s efforts to elect pro-business lawmakers to office this election cycle in the United States.
The ad campaign is an addition to the tens of millions of dollars the cryptocurrency sector has already spent on down-ballot contests in the US elections this year in an effort to defeat proponents of increased regulation.
The new ad from Coinbase (COIN.O), aims to promote crypto alternatives to sending remittances, and features a young man who sends money to his grandmother in Mexico.
Coinbase says that while the average fee rate to send money overseas is 6.18%, it is free to send that money with USD Coin, a digital stablecoin, on Coinbase Wallet.
The ad will run on Univision during the Copa America soccer tournament on TV and digital with more investment in California and Texas, the company said. It is also targeting Washington, D.C.