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Coinbase shares slip as app crashes briefly after Super Bowl ad -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. The Coinbase Global Inc logo, which is the largest U.S. cryptocurrency exchange and wallet, can be seen on the Nasdaq MarketSite Jumbotron in Times Square, New York. It was displayed there, U.S.A, Thursday, April 14th, 2021. REUTERS/Shannon Stapleton/File Photo

(Reuters) – Shares in Coinbase, the U.S.’s largest crypto exchange (NASDAQ:), fell in premarket trade on Monday after a spike in traffic due to a Super Bowl advertisement. The app crashed briefly during the weekend.

During NFL’s championship game, the largest U.S. television event of the year was displayed a QR code that floated in colorful. This link redirected to a link which offered $15 worth bitcoin to anyone who had signed up for a Coinbase Account before February 15.

Surojit Chatterjee was the chief product officer of Coinbase and wrote about it on Twitter:

“Coinbase saw more traffic than any other site, but the teams came together and were able to control traffic for only a few seconds. Chatterjee stated that we are back now and available for you.

Before the bell, shares fell by 1.7% and were trading at $191.26.

Coinbase ran ads at the U.S. soccer championship alongside Bitbuy, FTX, and eToro, because cryptocurrency companies are betting that mainstream advertising in sports will be a success.

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