Business briefs, Feb. 11, 2023 | Business

Year after ‘Crypto Bowl,’ some ads vanish from game

NEW YORK — Cryptocurrency companies grabbed the spotlight during the 2022 Super Bowl, with commercials from a handful of newcomers to advertising’s biggest stage: FTX, Coinbase, Crypto.com and eToro. Some marketing experts dubbed it the “Crypto Bowl.” A year later, the industry has been humbled by a massive downturn in crypto prices, as well as the bankruptcy of several well-known companies. The dramatic turnaround harkens back to 2000, when dot-com companies such as Pets.com ran Super Bowl ads, only to go out of business within a year or two. This year, crypto ads are nowhere to be found.

Russia announces cut in oil output over Western price caps

MOSCOW — Russia has announced it will cut oil production by 500,000 barrels per day next month after Western countries capped the price of its crude over its action in Ukraine. Deputy Prime Minister Alexander Novak said Friday that “we will not sell oil to those who directly or indirectly adhere to the ‘price ceiling.’ ” The Group of Seven major democracies have imposed a $60-per-barrel price cap on Russian oil shipped to non-Western countries. 


Source link

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *