Fortune

American rapper Marshall Mathers, better known as Eminem, has become one of the latest celebrities to tout cryptocurrency exchange Crypto.com.
In an April 26 X post, Eminem <a href="https://twitter.com/Eminem/status/1783859123614052845" target="_blank" rel="noopener nofollow">released</a> an ad spot showing a boxing training montage interspersed with crypto jargon, including proof-of-work and Crypto.com’s now infamous slogan “fortune favors the brave.” The rapper was one of the first major celebrities to advertise for the cryptocurrency exchange since <a href="https://cointelegraph.com/news/actor-matt-damon-plugs-crypto-com-in-global-tv-spot">actor Matt Damon’s ad spot</a> in October 2021.
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 Source: <a href="https://twitter.com/Eminem/status/1783859123614052845" target="_blank" rel="noopener nofollow">Eminem</a>
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It’s unclear under what terms Eminem became the latest celebrity voice to push crypto in the United States following a significant market downturn in 2022, the high-profile collapse of FTX and its former CEO <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/sam-bankman-fried-and-caroline-ellison">Sam Bankman-Fried</a>, and the U.S. Securities and Exchange Commission stepping up enforcement actions against digital asset firms. The rapper was a member of the Bored Ape Yacht Club,&nbsp;<a href="https://cointelegraph.com/news/slim-shady-buys-bored-ape-eminape-nft-for-460k">purchasing a nonfungible token</a> (NFT) for $462,000 in 2021.&nbsp;
In Damon’s Crypto.com ad spot, he appeared amid a digital landscape of historical figures, including the Wright brothers and Sir Edmund Hillary. At the time, the exchange was one of the fastest-growing firms in the crypto space, arranging many sponsorship deals, including <a href="https://cointelegraph.com/news/staples-center-los-angeles-will-be-renamed-crypto-com-arena">renaming Los Angeles’ Staples Center</a> to the Crypto.com Arena — the backdrop for Eminem’s video.
Related: <a href="https://cointelegraph.com/news/celebs-who-got-burned-endorsing-crypto-and-those-that-got-away-with-it">Celebs who got burned endorsing crypto and those that got away with it</a>
Many Hollywood celebrities and sports stars have appeared in high-profile advertisements for crypto firms only to later reassess their role. More than a year after the ad aired, Damon <a href="https://cointelegraph.com/news/matt-damon-reveals-why-he-appeared-in-crypto-com-s-most-infamous-ad">said he only did it</a> to raise money for Water.org, a clean water initiative. Comedian Larry David, who in 2022&nbsp;<a href="https://cointelegraph.com/news/ftx-larry-david-super-bowl-ad">appeared in a Super Bowl ad</a>&nbsp;for now-bankrupt crypto exchange FTX, later said he was “an idiot” to do it.
Reactions to Eminem touting crypto appeared to be mixed on social media. Many users <a href="https://www.reddit.com/r/CryptoCurrency/comments/1cdoye1/comment/l1ddvem/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button" target="_blank" rel="noopener nofollow">created</a> parodies of the rapper’s lyrics to better fit the crypto space — e.g., “Will the real Satoshi please stand up?” — while others questioned whether his sponsorship would turn out differently than Damon’s. The price of Crypto.com’s native token, Cronos (<a href="https://cointelegraph.com/cronos-cro-price-index">CRO</a>), was seemingly unaffected by the release of the ad spot.
Magazine: <a href="https://cointelegraph.com/magazine/gordon-goner-health-battle-bored-apes-turn-3/">Gordon Goner on his dramatic health battles and Bored Apes turning 3</a>

Fortune favors something — Eminem takes Crypto.com mantle from Matt Damon

Cointelegraph

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