Facebook partially reversed its crypto ad blanket ban by allowing Coinbase ads as of 22 July 2018, opening the door for more properly licensed and regulated crypto companies to regain their advertising ability via an application process. Google, the biggest online advertiser in the world, is following Facebook’s lead and serving Coinbase ads via its Adsense and Adwords platforms. Additionally, Instagram, which is owned by Facebook, is now displaying Coinbase ads.
Coinbase, the largest cryptocurrency exchange headquartered in the United States, appears to be the only crypto company allowed to advertise on Google, Facebook, and Instagram for the time being. This has given it a major advantage over all other crypto companies. Google’s and Facebook’s advertising platforms serve billions of dollars of ads per year and they are among the biggest websites in the world with billions of users.
Apparently, Facebook displaying Coinbase ads has re-ignited speculation that Facebook might acquire Coinbase. This appears to just a rumor for now, but Facebook certainly has enough money to acquire Coinbase since it is one of the biggest corporations in the United States with a stock market cap of USD 602 billion as of this writing on 23 July 2018. Additionally, the head of the Facebook blockchain team, David Marcus, is on the Board of Directors of Coinbase.
The initial blanket ban of crypto ads was the result of numerous ICO- and crypto-related scams using Google’s and Facebook’s advertising service to lure in victims. This latest reversal of advertising policy is expected to help increase the adoption of crypto globally. Simultaneously, stricter rules for ads should hinder the ability of crypto scams to proliferate.
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