The cryptocurrency industry's marketing efforts are focused on young people, especially young men. Entertainers and athletes have ample money to risk in speculative bubbles their millions of admirers don't have that luxury and may be left holding the bag when a bubble bursts. Cryptocurrencies, after all, are in many cases not so much currencies as speculative thingamabobs - digital tokens whose value is predicated largely on the idea that someone will take them off your hands at a higher price than it cost you to acquire them. There is something unseemly, to put it mildly, about the famous and fabulously wealthy urging crypto on their fans. On Twitter, Reese Witherspoon is a vocal booster ("Crypto is here to stay"), and Snoop Dogg, an NFT aficionado, offers investing advice ("Buy low stay high!"). Tom Brady and Gisele Bundchen have appeared in commercials for the cryptocurrency exchange FTX, a competitor in which they have an equity stake. Damon is just the latest A-list star who has taken to hawking crypto. The burden of spreading that gospel has been placed on the beefy shoulders of Matt Damon, whom hired as its "brand ambassador" in advance of a $100 million global marketing push. It's an expensive advertisement, complete with top-notch CGI and heady phrases like "History is filled with almosts" and "Fortune favors the brave." Jody Rosen dissects Damon's crypto push in a New York Times piece titled, " Why Is Matt Damon Shilling for Crypto? An anonymous reader shares an excerpt from the report: If you've been watching any TV over the past few months, chances are you've seen 's ad featuring Matt Damon.
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