Crypto Companies are Slashing Ad Budgets Amid Dire Market Wipeout

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It's been a harrowing few weeks for anyone tracking the Nasdaq or the S&P 500. But look to the land of cryptocurrencies -- you know, the decentralized economy that's supposed to be safely cordoned off from the volatile world of centralized banking and act as a reprieve to rapidly inflating fiat currencies -- and you'll find a state of play that's equally precarious. If not a whole lot worse.

One figure in particular tells the story: ad spending. After making a big Super Bowl splash, major crypto firms are now punting on their advertising campaigns.

Source Fool.com