Coinbase ads resurface on Google, Facebook despite no announcement of lifting of ban

Representative Image: Google, Facebook, Twitter mobile apps

Google and Facebook which have banned cryptocurrency ads earlier this year seem to have relaxed the norms as Coinbase ads surfaced on both platforms.

Brian Armstrong, CEO of one of the biggest cryptocurrency exchange in the US, Coinbase said in a tweet that Facebook had whitelisted his firm’s ads.

“Facebook banned ads for crypto earlier this year. Proud to say we've now been whitelisted and are back introducing more people to an open financial system,” he said.

Facebook banned ads for crypto earlier this year. Proud to say we've now been whitelisted and are back introducing more people to an open financial system  pic.twitter.com/JqF5ssAqqh

— Brian Armstrong (@brian_armstrong) July 20, 2018

A user on Reddit also claimed that the ads were back on the Google Search platform. Redditor u/thekcoinz posted an image which showed the ad at the top of a search result page for the term ‘bitcoin’.

Moneycontrol could not independently verify the authenticity of the image.

The search trend for the term bitcoin has reduced manifold as per Google Trends. The interest in the term has sunk to a 10th of the level in December 2017.

Another Redditor, u/Steven81 said, “After Facebook, Google does too. Bull is prepped. Seriously though, even Google search trends (for bitcoin) seems to have bottomed, finally, after months and months of falling. Manipulation or not, the way this bear started (ads ban, Korea ban) may also be the one to end it (restart of ads, Korea is back).”

Google had decided to ban the cryptocurrency ads from June onwards. The company had said, it “will ban ads for unregulated or speculative financial products like binary options, cryptocurrency and financial spread betting among others.”

Facebook had also notified the media and the general community of a similar decision.