Make Kitco Your Homepage

Crypto SWOT: how many crypto super bowl ads did you see?

Commentaries & Views


  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was NinjaFloki, rising 687.31%.

  • Federal officials seized some $3.6 billion worth of Bitcoin tied to the 2016 hack of the crypto exchange Bitfinex, reports CoinDesk. Two individuals were arrested on Tuesday in New York on charges they conspired to launder proceeds from the Bitfinext hack.

  • Billionaire investor Bill Ackman urged the New York City mayor and political leaders to remove the state's barriers to cryptocurrency access this week on Twitter. Ackman tweeted: "NY is on its way to becoming a crypto center of innovation. Let's remove barriers, create opportunities for growth and innovation, and help our state and city!"


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was WalMeta, down 99.37%.

  • Bitcoin's drop since its November high has been so steep that the average buyer over the last couple of months is likely underwater until it once again tops $47,000, writes Bloomberg. According to Blockforce Capital, the average price investors paid for the coin over the last five months is $47,000.

  • An anonymous cryptocurrency wallet holding 1,000 Bitcoins transferred its funds to Coinbase. Cryptocurrency transfers from wallets to exchanges is typically a bearish signal, writes Bloomberg. When "whales" transfer Bitcoin to exchanges it typically signals the need for liquidity and is unlikely that they will hold their Bitcoin on the exchange due to security risk.


  • This year's Super Bowl is now being called the "Crypto Bowl," writes Fortune, as cryptocurrency companies are spending millions on television ads during the game. Huge crypto brands are going "head-to-head" with professional sports teams, leagues, and stars to generate industry awareness for over 100 million viewers.

  • KKR is set to become the latest Wall Street name to back metaverse company Animoca Brands Corp., taking the latest funding round to about $500 million, writes Bloomberg. Animoca offers a slew of blockchain-based games in genres like car racing and tower defense.  

  • YouTube elaborated on its NFT plans for 2022 doubling down on the idea that the crypto assets could have huge upside potential, writes Blockworks. Neal Mohan, the Chief Product Officer at YouTube, said that "NFTs have incredible potential and allow creators to make money in ways not previously possible."


  • The creator of the cryptocurrency Skycoin claims that a former consultant and others tried to extort tens of millions of dollars with ransomware attacks, organized a plot to kidnap him and his girlfriend, and conspired to undermine the $5 billion market for the digital token, reports Bloomberg.  

  • The Reserve Bank of India Governor Shaktikanta Das on Thursday warned that private cryptocurrencies pose a big threat to India's macroeconomic and financial stability, writes Bloomberg. Das said "Cryptocurrencies, which have currency-like character, will undermine the RBI's ability to deal with financial stability issues."

  • A metric tracking Bitcoin miners' holdings turned negative on Feb. 5 for the first time since mid-November, writes Bloomberg. According to crypto analytics platform Glassnode miners have sold their coins in a possible sign of a shakeout and manage cash, while also investing in more powerful equipment.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.