Super Bowl LVI was a face-off between the Cincinnati Bengals and Los Angeles Rams on the field, and between major cryptocurrency exchanges off of it. FTX, Coinbase, and Crypto.com all advertised during the event, competing for viewers’ attention.

The CEO of ride-sharing app Uber, Dara Khosrowshahi, has said the firm will accept cryptocurrency payments “at some point” in the future, but noted “this isn’t the right point,” suggesting the firm isn’t yet ready to embrace crypto.

CryptoCompare’s latest Asset Report details that USD monthly volumes into Cardano nearly quadrupled from December to January, from $1.62 billion to $6.18 billion, while the number of addresses holding ADA hit a new high of 4.5 million.

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Top stories in the Crypto Roundup today:

• Crypto Exchanges Compete in Super Bowl Debut
• Uber Will Eventually Accept Crypto Payments, CEO Says
• Cardano USD Monthly Volumes Nearly Quadrupled in January
• Chart of the Week: Top 10 Biggest DeFi Exploits
• Sponsored:  Register for a Rewarding Bybit Experience

Crpto Exchanges Compete in Super Bowl Debut

Super Bowl LVI was a face-off between the Cincinnati Bengals and Los Angeles Rams on the field, and between major cryptocurrency exchanges off of it. FTX, Coinbase, and Crypto.com all advertised during the event, competing for viewers’ attention.

Both FTX and Coinbase committed to giving away free cryptocurrency through their ads, with the latter airing a minute-long bouncing QR code across the screen that invited viewers to participate in a large giveaway with over $100 million in incentives.

The ad got Coinbase trending on social media shortly after it aired, and was so popular the Nasdaq-listed exchange was forced to throttle traffic after reporting “more traffic than we’ve ever encountered.”

FTX’s ad featured comedian Larry David and  took viewers through history’s greatest inventions, with Larry turning down the ideas as innovative. When he’s introduced to FTX he says: “I don’t think so. And I’m never wrong about this stuff.” FTX is giving away 7.54 BTC as part of its campaign.

Crypto.com’s Super Bowl ad took LeBron James back to 2003. In a teenage James’ bedroom, he has a conversation with his younger self, where he wonders whether he’s ready for the league. An older James says that if he wants to make history he has to “call your own shots,” before ending with the “Fortune Favors the Brave” slogan.

eToro’s Super Bowl ad shows a person creating a post on eToro looking for opinions on where to start on crypto and stocks. It leads to him joining an online community of millions that share ideas about the markets.

Uber Will Eventually Accept Crypto Payments, CEO Says

The CEO of ride-sharing app Uber, Dara Khosrowshahi, has said the firm will accept cryptocurrency payments “at some point” in the future, but noted “this isn’t the right point,” suggesting the firm isn’t yet ready to embrace crypto.

Khosrowshahi noted that the cost of exchanges, which can carry high transaction fees, and the potential environmental impact of cryptocurrency mining, as reasons why Uber hasn’t yet started accepting cryptocurrencies.

The CEO added that as the “exchange mechanism becomes less expensive and becomes more environmentally friendly” Uber will start “leaning into crypto a little bit more.”

Cardano USD Monthly Volumes Nearly Quadrupled in January

CryptoCompare’s latest Asset Report details that USD monthly Cardano volumes nearly quadrupled from December to January, from $1.62 billion to $6.18 billion, while the number of addresses holding ADA hit a new high of 4.5 million.

The number of monthly transactions on the Cardano blockchain also grew in January, moving up 26.6% to 3.8 million, while still being far below their peak seen in November. The number of daily active addresses on the network moved up 18.2% to 163,000.

Interestingly, the average transaction fee paid on the network moved from $0.33 in December to $0.43 in January, while still being below a $0.69 high seen in September of last year.

These changes coincided with the launch of the first usable decentralized finance (DeFi) applications on Cardano, including MuesliSwap and SundaeSwap. Cardano developer Input Output has moved to increase the network’s block size.

Chart of the Week: Top 10 Biggest DeFi Exploits

The largest exploits in the decentralized finance (Defi) space have made headlines amid a plethora of security breaches that have occurred over the last few years.

The largest one in DeFi was that of Poly Network, which was attacked by an anonymous hacker last year who managed to steal $610 million worth of crypto. The funds were later returned and the hacker was rewarded with a $500,000 bug bounty.

Next came Wormhole’s exploit, which saw the protocol lose over $300 million worth of Ethereum and could have had disastrous consequences for the DeFi ecosystem on Solana because tokenized ETH on it was no longer backed.

Other exploits affected well-known protocols including Compound, Bader, and Cream Finance.

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