Why did Matt Damon star in the controversial Crypto.com ad

Hollywood actor Matt Damon finally explained the true reasons behind his participation in the famous “Fortune favors the brave” commercial by the Crypto.com platform, an ad that became the target of widespread ridicule after the crypto market volatility in 2022. During a recent interview with the Associated Press, Damon acknowledged some discomfort in justifying his decision to get involved in the cryptocurrency exchange’s advertising campaign.

The financial crisis behind the decision

The real reason, according to Damon, was related to a critical situation at Water.org, the clean water organization he co-founded in 2009 with engineer and philanthropist Gary White. “We went through a very difficult year at Water.org, and I did that commercial mainly to raise funds for our foundation,” the actor explained. The organization works to expand access to clean water worldwide through small loans that enable families to install faucets and toilets in their homes.

Damon’s dedication to this cause has been notable: he had previously donated all of his earnings during times of financial crisis for the foundation. His commitment to philanthropy was precisely what caught Crypto.com’s attention.

How an advertisement turned into a donation

Crypto.com not only agreed to pay for the ad but also took the opportunity to contribute directly to Damon’s mission. According to the actor: “Crypto.com learned about our situation and decided to donate $1 million to Water.org.” Damon added that this gesture generated considerable gratitude: “I definitely have deep gratitude for the support they provided to our foundation.”

The commercial, launched in October 2021, featured the actor surrounded by historical figures such as the Wright brothers and Edmund Hillary, broadcast via billboards and TV spots worldwide.

From recognition to controversy

However, the reception of the campaign changed dramatically during 2022, a devastating year for the crypto sector. The ad went from being an innovative initiative to being the subject of widespread criticism. Damon became the target of countless jokes on shows like South Park and late-night programs hosted by figures like Stephen Colbert, who used his participation as a symbol of the sector’s speculative excesses.

Despite public scrutiny and ongoing mockery, Damon has maintained his stance: Crypto.com’s contribution to Water.org justified his participation in the campaign, demonstrating that even in a controversial context, support for philanthropic causes was tangible and measurable.