For those of you thinking the CDC benefits is what killed itself. Remember, they spent almost $1 BILLION in ads

Bloomberg reported recently that Crypto.com’s ads featuring Matt Damon and a major cinematographer have cost it more than $100 million. It has now aired in at least 20 countries and has likely been very effective.

https://www.nasdaq.com/articles/crypto.com-coin-is-a-bargain-if-their-ads-featuring-matt-damon-work

News broke Wednesday that Los Angeles’ Staples Center, longtime home to the National Basketball Association dominating L.A. Lakers team, will be renamed “Crypto.com Arena” in a 20-year, $700 million naming rights deal that appears to be the largest in sports history.

https://www.coindesk.com/business/2021/11/17/ftx-cryptocom-and-the-stadium-curse/

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So between these 2 deals and not looking at all their other deals. They spent $800M. $200M short of $1B.

I can't find the interview, but a while back when this was happening Bloomberg interviewed the CEO of Kraken about this, and about how Kraken honestly spends virtually nothing in advertising. The CEO basically said studies show spending money in such things do not get the user returns required for it to pay off, and there is better ways to spend money to attract users. For example, using it in your own system to make it user friendly, adding features, and things around that.

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Note there is no evidence to backup this next part and it is only my own speculation. But if I had to guess, what happened is the heads of CDC thought BTC would hit the $100k goal of last year. This means their own coin CRO is highly likely to jump, and this year wouldn't be as bad as it is now. And instead of listing to people when we said crypto is extremely early. They went ahead and assumed sports people will be able to understand what is crypto.com and they assumed the few ads they made would advertised their card when in reality it NEVER mentioned their product 1 time. Like some people were confused in thinking it was an ad to advertise crypto itself, and chances are coinbase gain more from this than crypto themselves.

Anyways, to keep the company around they have to take these extremes we been seeing and it is likely we will be seeing

1. them slowly rolling back in allowing these things to come back. Like slowly doing it in trying to figure out where they need to make the cut off
2. they will get rid of the program all together
3. they might end up just keeping the program they have depending on the cost, and then do something in the next bull cycle.
4. Or this is the end of CDC

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What I think they should've spent that $800m on is

• Having an API that will link up the stuff with platforms like Koinly to make it more tax friendly
• Make a web version of the exchange
• Give an actual use to the CRO coin outside of staking. Like they can pull a KuCoin or Binance in having it where the coin gives you a discount on the exchange
• They could've worked on having features to compete against Binance and Kraken (this forcing those companies to up their game also). Features like lower trading fees
• They could've done community voting for new features and had the community interact more in letting the company know what the community wants
• They could've easily spent a good amount in education. Maybe do education grants so YouTubers who actually know what they are doing, they will educate people about the platform, crypto, and things they should know.

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BTW if someone from CDC wants to hire me to fix this mess, then message me. Depending on the books, this still might be salvageable.