Google is once again allowing cryptocurrency advertising. At least Coinbase actively displays advertising. This change occurred a couple of days after the company’s advertisement appeared on the Facebook portal.
Earlier this year, many cryptocurrency companies suffered damage due to the fact that most major Western websites banned advertising of cryptocurrency services. Facebook first announced such a ban on January 30. Its employees explained these measures as protecting their users from scammers.
Google announced a similar decision in March of this year. This meant that when people typed “Bitcoin” into a search engine, only organic search results appeared, not paid advertisements. While some people felt the ban was unfair to the industry, many welcomed it, agreeing that digital fraud was rampant.
Twitter and Snapchat were the next companies to announce bans. Regarding Twitter, the advertising ban had no effect on the number of fraudulent bots, but many still believe that it had a negative impact on the entire cryptocurrency industry.
On June 26, Facebook relaxed some of its rules for most types of cryptocurrency companies. ICOs remain banned. Brian Armstrong, CEO of Coinbase, announced his return to Facebook on Twitter on Friday:
“Facebook banned all cryptocurrency advertising earlier this year. We are pleased to announce that our company will once again attract more people to the open financial system through advertising on the platform.”
Google does not want to be left behind
John Lewin, chief marketing officer of tokentarget, said in an interview with Finance Magnates:
“We see the growth rate, and we also see that large institutions are increasingly willing to cooperate with cryptocurrency companies in 2018. This is not surprising, as more regulators and countries are starting to experiment with this technology, and giants like Facebook and Google are not averse to making money on it.”
Coinbase is the largest cryptocurrency exchange in the United States. In recent months, due to the market downturn and advertising bans, it has undoubtedly slowed down, but still processes more than $100 million daily.. As part of its campaign to establish itself in the financial system, the company created a political action committee, which is the official way to raise money for political campaigns in the United States. Now Coinbase is again advertised on two major platforms, and this will undoubtedly have a positive impact on its revenue.
According to www.financemagnates.com
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