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Papa John’s pizza chain suffered from the actions of the regulator
The British Advertising Standards Authority (ASA) has found a campaign launched by pizza chain Papa John’s as fraudulent. It was timed to coincide with the “Bitcoin Pizza Day” annually celebrated by crypto enthusiasts.
In the text of the ad, Papa John’s offered its customers a “free 10 pounds bitcoin” – they could get it when placing an order worth 30 pounds or more. The offer was valid on May 22, 2021 – it is on this day that Bitcoin Pizza Day is celebrated in the world. The advertisement was posted on the company’s website and on its Twitter page.
The company insisted that advertising did not urge customers to invest in cryptocurrency, but only offered them to get a small amount of it for free. However, the ASA felt that it “simplified the process of making a serious and potentially costly financial decision.”
“The advertisement was addressed to a wide audience, so we felt that most of the clients participating in the campaign did not have a sufficient understanding of cryptocurrencies and the risks associated with them,” the regulator said in a statement.
- Bitcoin Pizza Day is celebrated annually on May 22nd. On this day in 2010, crypto enthusiast Laszlo Hanyecz bought two pizzas for 10,000 BTC. At the moment, the cost of the cryptocurrency he spent exceeds $ 480 million.
- Heinitz’s purchase was made at Papa John’s Pizzeria in Jacksonville, Florida. On May 22, 2021, in honor of the Bitcoin Pizza Deal, she gave away 10,000 slices of pizza to the first 50 visitors for free.
- In addition to advertising, Papa John’s ASA has also declared unfair and banned six more advertising campaigns related to cryptocurrencies. They were hosted by crypto exchanges and electronic trading platforms eToro, Coinburp, Coinbase Europe, Luno Money, Exmo Exchange, and Payward.
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