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Google Struggles with Ad Revenue as Crypto Firms Reduce Spending

by Blockchain NewsOctober 26, 2022

Alphabet said that reduced advertising spending by crypto companies has undermined Google’s revenue growth during the third quarter of 2022.

The ongoing crypto winter has brought a slowdown in ad spending, as the overall market sentiment has turned negative since the beginning of 2022. Many companies have gone bankrupt, such as Celsius Network, and other crypto companies have become hesitant to invest during this market downturn period.

According to Google’s chief business officer Philipp Schindler, other financial firms have also become hesitant in spending on ads.

“In the third quarter, we did see a pullback in spend by some advertisers in certain areas in search,” Schindler said. “For example, in financial services, we saw a pullback in the insurance, loan, mortgage, and crypto subcategories.”

According to Alphabet’s third-quarter earnings call, Google saw a 6% slowdown in revenue growth from 41% a year earlier. Besides the one quarter at the beginning of the pandemic, this result was the weakest for any period since 2013.

CEO Sundar Pichai stated that the “challenging macro climate” has affected Google’s ad business.

However, Schindler did not specify how ad pullback from crypto companies has affected Google’s revenue.

But the overall drawback of investors from the crypto industry is the plausible reason. As the crypto industry struggles, many investors are fleeing from risky assets and selling out digital coins and related stocks.

Popular digital currencies such as Bitcoin and Ethereum have both lost about 60% of their value in 2022. While popular crypto exchange Coinbase is down by 70%.

Google, however, believes that the ongoing crypto winter is a short-term crisis and opportunities for growth shall rise again in the future.

In early October, Google teamed up with Coinbase to allow some of its clients to pay for cloud services using cryptocurrencies.

The strategic partnership also seeks to cater for the needs of the growing Web3 ecosystem. For instance, developers will have the chance to reliably and instantly operate Web3 networks, eliminating the need for complex and expensive infrastructure.

The collaboration will also see Google Cloud serve as Coinbase’s strategic cloud provider to boost enhanced exchange and data services. Per the report: “Coinbase will use Google Cloud’s powerful compute platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google’s premium fibre-optic network.”

Furthermore, Coinbase’s clients will leverage Google Cloud’s data and analytics technologies for machine learning-driven crypto insights.

Google set the ball rolling in Web3 after it assembled a team to create services for developers earlier this year.

Image source: Shutterstock

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Tagged : Ad / Advertising / Alphabet / Blockchain / Crypto / Google / Industry

Crypto Firms Spent Over $3B on Sports Ads, Research Shows

by Blockchain NewsSeptember 21, 2022

Crypto firms are eyeing this sector to harness a new generation of investors, according to a study by Safe Trade Binary Options.

The financial information website revealed that crypto firms have used more than $3 billion in 2022 on global sports advertising to spark awareness among Generation Z and millennials, who are deemed lucrative and tech-savvy.

Saqib Iqbal, a Safe Trade Binary Options analyst, stated:

“For many years, non-crypto businesses such as Red Bull and Coca-Cola have targeted young people through their sports team affiliations. Crypto firms have observed this and are beginning to adopt a similar approach in order to broaden their appeal and bring in a new, more tech savvy generation of investors.”

Crypto firms have realized that sports businesses are a significant outlet for high-profile marketing collaborations, major sponsorship deals, and spending. Iqbal noted:

“The largest partnership so far is Crypto.com’s $700 million deal for the naming rights to the Los Angeles arena, which was formerly known as the Staples Center.”

The crypto sector’s spending on Super Bowl 2022 advertisements surpassed those of alcohol, airlines, quick-service restaurants, and wine firms combined, according to data by sponsorship consulting firm IEG.

For instance, crypto exchange Coinbase spent a whopping $14 million on a minute-long Super Bowl ad, but it raked in the dividends because traffic reached historic highs. The Coinbase app jumped to the second spot from the 186th position on the Apple store, Blockchain.News reported.

Iqbal pointed out:

“2022 has really been a turning point for Crypto marketing and we’re seeing many brands seriously ramping up their sports advertising.”

Meanwhile, Toto Wolff, Mercedes team principal, noted that cryptocurrencies were part of modern technology that could not be ignored, given that 80% of racing teams in the 2022 Formula 1 (F1) grid featured at least one crypto sponsor.

Image source: Shutterstock

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Tagged : Advertising / Crypto / Industry / Sponsorship / Sports

Crypto Firms Spend Over $3B on Sports Advertising, Research Shows

by Blockchain NewsSeptember 21, 2022

Crypto firms are eyeing this sector to harness a new generation of investors, according to a study by Safe Trade Binary Options.

Saqib Iqbal, a Safe Trade Binary Options analyst, stated:

“For many years, non-crypto businesses such as Red Bull and Coca-Cola have targeted young people through their sports team affiliations. Crypto firms have observed this and are beginning to adopt a similar approach in order to broaden their appeal and bring in a new, more tech savvy generation of investors.”

Crypto firms have realized that sports businesses are a significant outlet for high-profile marketing collaborations, major sponsorship deals, and spending. Iqbal noted:

“The largest partnership so far is Crypto.com’s $700 million deal for the naming rights to the Los Angeles arena, which was formerly known as the Staples Center.”

Iqbal pointed out:

“2022 has really been a turning point for Crypto marketing and we’re seeing many brands seriously ramping up their sports advertising.”

Image source: Shutterstock

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Tagged : Advertising / Crypto / Industry / Sponsorship / Sports

Crypto Firms Spend Over $3B on Sports Advertising to Tap New Investors, Research Shows

by Blockchain NewsSeptember 21, 2022

Crypto firms are eyeing this sector to harness a new generation of investors, according to a study by Safe Trade Binary Options.

Saqib Iqbal, a Safe Trade Binary Options analyst, stated:

“For many years, non-crypto businesses such as Red Bull and Coca-Cola have targeted young people through their sports team affiliations. Crypto firms have observed this and are beginning to adopt a similar approach in order to broaden their appeal and bring in a new, more tech savvy generation of investors.”

Crypto firms have realized that sports businesses are a significant outlet for high-profile marketing collaborations, major sponsorship deals, and spending. Iqbal noted:

“The largest partnership so far is Crypto.com’s $700 million deal for the naming rights to the Los Angeles arena, which was formerly known as the Staples Center.”

Iqbal pointed out:

“2022 has really been a turning point for Crypto marketing and we’re seeing many brands seriously ramping up their sports advertising.”

Image source: Shutterstock

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Tagged : Advertising / Crypto / Industry / Sponsorship / Sports

Thailand Tightens Crypto Advertising Rules after Crypto Zipmex Bankrupted

by Blockchain NewsSeptember 2, 2022

Thailand’s Securities & Exchange Commission (SEC) announced Thursday that it has tightened cryptocurrency firms’ advertising rules.

In an emailed statement sent on Thursday, the SEC told various crypto-related companies operating in the country that ads for digital assets must include clear and visible warnings about the risks of investing in cryptocurrencies.

The SEC tightened rules after discovering that some ads contain no warnings about crypto risks while other promotions feature only positive information.

The regulator’s details of the tighter crypto advertising regulations include:

· Advertisements must not feature false, misleading or exaggerated claims

· Warnings of risks must be clear and easy to notice

· The ads must feature balanced views, mentioning both positive and negative factors

· And crypto firms must limit advertising to official channels like their websites

Recently, the authorities announced their plans to provide more protections for retail investors.

The enforcement of the new advertising rules by the SEC comes after Zipmex, a locally licensed crypto exchange, and its regional parent company, Zipmex Pte, headquartered in Singapore, halted withdrawals in July due to a liquidity crisis after their exposure to troubled Babel Finance, and Celsius Networks went sour.

Zipmex, a crypto exchange that operates in markets such as Singapore and Thailand, halted withdrawals as the fallout from a series of defaults spread further into the industry.

The Asian platform encountered financial difficulties stemming from dealings with troubled crypto lending firms Babel Finance and Celsius Network Ltd.

The second-largest digital assets exchange in Thailand has been fined $1.92 baht by the local regulator, according to the statement published on Security and Exchange Comission, due to a failure to abide by the standards of professional ethics under the Royal Decree on Digital Asset Trade 2018.

Zipmex ran into financial troubles due to its $48 million exposure to Babel and $5 million with Celsius.

Efforts to Improve Consumer Protection

The latest move by Thailand makes it join countries such as the U.K. and Singapore in seeking to protect retail investors in the wake of a $2 trillion selloff in digital asset markets.

In January, the U.K. government strengthened cryptocurrency ads’ rules to bring them in line with other financial assets.

The U.K. financial watchdog, the Financial Conduct Authority (FCA), said the rules would increase consumer protection and also encourage innovation.

In March last year, The U.K. Advertising Standards Authority (ASA) banned what it termed a “socially irresponsible” Bitcoin ad and sent warnings to a group of crypto firms about crypto promotions.

In January this year, the regulator banned two ads by Crypto.com, stating that the firm was encouraging people to purchase Bitcoin with credit cards.

Meanwhile, in January, Singapore’s financial regulator, the Monetary Authority of Singapore, restricted digital asset players from promoting crypto services in public spaces, leading to the removal of advertisements in MRT stations and the dismantling of Bitcoin ATMs.

The regulator is now considering further measures to discourage retail investors from accessing crypto.

Image source: Shutterstock

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Tagged : Advertising / Crypto / Regulation / Thailand / Zipmex

Thailand Tightens Crypto Advertising Rules after Crypto Zipmex Bankrupt

by Blockchain NewsSeptember 2, 2022

Thailand’s Securities & Exchange Commission (SEC) announced Thursday that it has tightened cryptocurrency firms’ advertising rules.

The SEC tightened rules after discovering that some ads contain no warnings about crypto risks while other promotions feature only positive information.

The regulator’s details of the tighter crypto advertising regulations include:

· Advertisements must not feature false, misleading or exaggerated claims

· Warnings of risks must be clear and easy to notice

· The ads must feature balanced views, mentioning both positive and negative factors

· And crypto firms must limit advertising to official channels like their websites

Recently, the authorities announced their plans to provide more protections for retail investors.

Zipmex, a crypto exchange that operates in markets such as Singapore and Thailand, halted withdrawals as the fallout from a series of defaults spread further into the industry.

The Asian platform encountered financial difficulties stemming from dealings with troubled crypto lending firms Babel Finance and Celsius Network Ltd.

Zipmex ran into financial troubles due to its $48 million exposure to Babel and $5 million with Celsius.

Efforts to Improve Consumer Protection

The latest move by Thailand makes it join countries such as the U.K. and Singapore in seeking to protect retail investors in the wake of a $2 trillion selloff in digital asset markets.

In January, the U.K. government strengthened cryptocurrency ads’ rules to bring them in line with other financial assets.

The U.K. financial watchdog, the Financial Conduct Authority (FCA), said the rules would increase consumer protection and also encourage innovation.

In January this year, the regulator banned two ads by Crypto.com, stating that the firm was encouraging people to purchase Bitcoin with credit cards.

The regulator is now considering further measures to discourage retail investors from accessing crypto.

Image source: Shutterstock

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Tagged : Advertising / Crypto / Regulation / Thailand / Zipmex

Google Ad Policy Updates Require Regulatory Compliance From Bitcoin Exchanges And Wallets

by Bitcoin MagazineJune 3, 2021

Google has updated its requirements for bitcoin exchange and wallet advertisements, requiring FinCEN, state and federal compliance.

Web search giant Google plans to update its requirements for advertisements from bitcoin-focused businesses next month.

“In August 2021, Google will update the Financial products and services policy to clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services,” according to a statement from the company. “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.”

The statement went on to list that these businesses will need to be registered with the Financial Crimes Enforcement Network (FinCEN) as money services businesses and with at least one state as money transmitters, or with federal- or state-chartered bank entities. They will also need to comply with legal requirements set by state and federal authorities.

Any existing cryptocurrency exchange certifications will be revoked on August 3, and advertisers will have to seek out new certifications with Google when it publishes an application form on July 8, 2021.

The statement also clarified that “Ads for initial coin offerings [ICOs], DeFi trading protocols, or otherwise promoting the purchase, sale or trade of cryptocurrencies or related products” will not be allowed. ICO presales, cryptocurrency loans, initial decentralized exchange (DEX) offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets and unregulated decentralized applications were all listed as examples of things that cannot be advertised.

Google has generated 30% of worldwide digital ad revenue in recent years, and its advertising policy can have major influence on the success of businesses. Regulatory requirements enforced through these policies could very well determine the success of many bitcoin exchanges or wallets.

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Tagged : Advertising / All News / Bitcoin / Bitcoin Exchanges / Bitcoin Wallets / Business / Google

How Small Businesses can use Blockchain?

by Blockchain NewsFebruary 8, 2021

If you keep tabs on the technological world then there is no way you could have overlooked blockchain. Just like any other revolutionary technology, blockchain is currently showing lots of promises and soon it will become one of the most impactful technological evolutions. This is one of the main reasons why the total blockchain investment reached around 3.08 million dollars and it will continue growing in the future as well.

If you are already aware about blockchain then you must be also aware of the fact how it has completely changed payments. There is no denial in the fact that blockchain started with payment but now it has become much more than just a tool for improving payments.

Here are some of the best ways small businesses can use blockchain without burning a hole in their pocket.

Proof of identity

You should know that blockchain contains many blocks of untamperable data and this is why it is considered an excellent tool for providing vital data. In the modern era, identity theft has become one of the biggest worries for most of the firms and people out there and blockchain is the best way to prevent it.

In a similar manner, blockchain can be used for verifying new business partners or it can also be used for checking the credentials of an employee and their work history. So, we can say that blockchain can be used as a protector and proof of identity.

Validating supply chain

If you are running a small business where you are already validating products with the help of blockchain then instead of limiting the applications of blockchain to product validation, you should start using it for the supply chain as well. This will allow you to easily track where the different parts of your products are coming from and it will also help you in showing your customer that your supply chain has no complications and it is completely clean.

There are many small firms out there that have already started using blockchain for validating their supply chain and they have been quite successful with their approach. In the modern era, customers will be really interested in buying a product from a company that uses a supply chain in which there is no involvement of child labor or there are no inhuman working conditions.

Protecting intellectual property

We are living in a digital era and this era might have given us many benefits but it has come along with many challenges as well. One such challenge that people have to face is regarding their intellectuals properly. In the digital era, protecting intellectual property has become quite challenging but you can overcome this challenge by using blockchain, especially if you are running a small-sized business.

You should know that you can use blockchain for keeping your intellectual property safe, regardless of how or where you publish it. But this is not it as even while selling the intellectual property to your customers, you can stay safe if you will start using blockchain.

Controlling advertising

With new products being launched virtually every second, it has become really difficult to make your ads stand out of the crowd, especially when the whole ad landscape has become crowded. And in such a crowded market, how can you make sure that your ads are hitting the right target? Well, you can do this by tracking traffic with the help of blockchain.

A consumer that will open your ad will create a blockchain record for you and this will allow you to check the different circumstances of your ad’s delivery. But you should also know that this will go both ways as when you will start using blockchain then you will also be allowing your customer to see how you are handling the data. This is why you will have to use it wisely and make it the star of your firm.

Blockchain is soon going to be one of the most revolutionary technologies out there but it will take some time for this technological miracle to mature and become a new normal for everyone out there. If you are running a small business then you should start looking for ways to harness the power of blockchain as soon as possible.

Author Bio

Kashyapi Prajapati has been involved in the world of accounting software, SEO and cloud computing from a very long time and currently, she is working as a lead content writer with Cloudwalks, a QuickBooks on the cloud hosting which offers affordable QuickBooks hosting pricing. Cloud computing and SEO is what she eats and drinks.

Image source: Shutterstock

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Tagged : Advertising / Blockchain / Security / SMALL BUSINESS / Supply Chain / Technology / Transparency

SaTT Takes On Blockchain Innovation In the Advertising Industry

by BtcmanagerJanuary 26, 2021

Before now, not so much has been said of the role of blockchain in the advertising industry especially in the area of implementation and mainstream adoption. Blockchain technology is a powerful tool that promises to reshape the orthodox way of doing things starting from traditional finance.

Today there is hardly any industry that hasn’t felt the disruptive native of blockchain, the advertising industry hasn’t escaped this disruptive impact either. Digital marketing has changed a lot in the past decade, but that needed change hasn’t been fully achieved as the industry is about to go through another revolution, thanks in large part to the blockchain.

With the aid of blockchain technology, transactions between two parties can be carried out without the need for third-party verification. The payment network and the ad metrics within an advertising structure can be greatly improved using blockchain transparently and efficiently.

Ultimately, blockchain decouples the presence of third-party within the advertising network. The technology is changing digital marketing by removing companies’ abilities to pull data from customers without also offering to reimburse them for its value. The idea is that it gives the value of data back to consumers.

How Big The Industry Can Become

The advertising industry is growing at a breakneck speed and as the industry surges, blockchain will unarguably play a crucial role in its long-term growth. According to data from Google Trend, the ad industry is expected to climb to $427.26 billion by 2022. Unfortunately, a large chunk of this amount is lost to fraud.

Relying on information obtained from Juniper Research, it is estimated that digital ad fraud will cost advertisers $44 billion globally in 2022, more than twice the $19 billion estimated for 2018. This is largely due to the lack of transparency that has clouded the advertising industry. This presents a strong use case for blockchain in the area of combating digital ad fraud.

This has presented a lot of opportunities for blockchain-based projects to spring into the limelight with revolutionary innovative products. A notable mention in this area is Smart Advertising Transaction Token (SaTT), a blockchain-based advertising project that focuses on bringing complete decentralization to the advertising industry.

The blockchain industry which is expected to reach over $23.3 billion by 2023 and $176 billion industry by 2025 will be crucial in improving the transparency that exists within the ad industry by first decoupling the presence of middlemen.

SaTT Presents Strong Use Case For Blockchain-based Advertising

Since the SaTT platform officially went live in early 2020, the blockchain-based advertising project has garnered a lot of interest within and outside of the blockchain industry. SaTT aims to bring decentralized advertising products to the advertising industry with the aid of blockchain technology.

In early 2020, SaTT integrated its decentralized advertising solution with the top social media platforms including Facebook, Instagram, Youtube, and Twitter. Allowing advertisers to promote their products and services through influential marketing strategies.

With the help of SaTT’s custom-built decentralized smart contract oracle, SaTT connects advertisers to publishers (social media influencers) together, allowing publishers to create content via these social media channels and in turn get paid for their effort based on the level of engagement derived (number of views, shares, likes, comments of the publication).

This process deployed by SaTT is entirely automated and void of human interference, improving upon existing and new advertising metrics.

SaTT mission is clear, and they have been resilient in delivering upon their promises. Sometime in November, they unveiled a 6-month roadmap which will ultimately set the path for the project to become open-source, a crucial step to complete decentralization and maximum community participation.

Interest Around SaTT Sets New Highs Every Day.

Cryptocurrency SATT is a Smart Advertising Token that governs the SaTT ecosystem platform and primarily used for settling advertising fees and reward within the SaTT platform. Since cryptocurrency SATT debuted on exchanges in September, it has attracted a lot of interest, resulting in the token outperforming most of the best performing crypto assets.

In the past two weeks, SATT has rallied more than 150% to reach an all-time high market capitalization of $12.5 million. Despite this rally, SaTT is still pretty much undervalued when compared to the size of the industry and all the developments that have been ongoing in the project. This makes SaTT one of those innovative projects to keep a tab on in 2021.

SaTT is currently trading on ProBit, Coinsbit, BW.com, Uniswap, and Binance DEX. They are keen on getting listed on reputable exchange, with the most recent listing being Binance DEX.

For Binance DEX, BSATT is listed under the BNB market and users have already started trading the BSATT/BNB pairs beginning from January 8th. This move will unarguably open up a rare opportunity for the SaTT ecosystem to draw closer towards joining the larger Binance family.

Being particular about decentralization, SaTT is doing everything possible to get listed on the top decentralized exchanges (DEXs) with a promising future.

Leveraging on the first-mover advantage, the expertise, and experience of the team in the advertising and blockchain industry, SaTT could easily rank among the biggest players of blockchain-based advertising.

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Tagged : Advertising / All News / Blockchain / Marketing / Satt

After Bitcoin crashes, and Grayscale stops advertising, will @CNBC’s guests still talk about a reckless Fed, excessive government debt, and the potential for a dollar collapse and hyperinflation, or will it go back to completely ignoring the problems as gold soars past $5,000?

by Peter SchiffJanuary 4, 2021

After #Bitcoin crashes, and #Grayscale stops advertising, will @CNBC’s guests still talk about a reckless Fed, excessive government debt, and the potential for a dollar collapse and hyperinflation, or will it go back to completely ignoring the problems as #gold soars past $5,000?

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Tagged : Advertising / Analysis / Bitcoin / CNBC / Grayscale / Guests / Hyperinflation / Potential / Prediction / Price / Problems / Short / SourceTwitter