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Exxon Mobil Corporation is engaged in energy business. The Company’s principal business involves exploration for, and production of, crude oil and natural gas, and the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a range of specialty products. The Company's segments include Upstream, Downstream and Chemical. The Upstream segment is organized and operates to explore for and produce crude oil and natural gas. The Downstream segment manufactures, trades and sells petroleum products. The refining and supply operations encompass a global network of manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants and other products and feedstocks to its customers around the world. The Chemical segment is organized and operates to manufacture and sell petrochemicals. The Chemical business supplies olefins, polyolefins, aromatics, and a variety of other petrochemicals.

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Here's how much money you would've lost if you bought crypto during Matt Damon's 'Fortune Favors the Brave' commercial

3:06 pm ET July 27, 2022 (MarketWatch)

By Weston Blasi

The Matt Damon 'Fortune Favors the Brave' commercial has been viewed over 28 million times on Twitter and YouTube

Remember when Matt Damon told you, "Fortune favors the brave"?

Well, Twitter (TWTR) users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin and ether are slumping, and crypto exchange platforms like Coinbase (COIN) are losing billions in market cap.

See also: Tax-free crypto payments? Senators propose bill for transactions under $50

The commercial, which debuted on October 28, 2021 and was replayed again during the Super Bowl, has now been viewed 9 million times on Twitter and over 18 million times on YouTube.

"I've never done an endorsement like this," Damon, who is also a Crypto.com investor, said when the commercial debuted. He also told Bloomberg that he's ready to "ride or die with the economy" -- but he's also not quitting his day job making movies.

Matt Damon and his representatives did not respond to MarketWatch's request for comment on this story.

See: Why is crypto crashing? Mark Cuban says 'crypto is going through the lull that the internet went through'

Unfortunately, if you had purchased $1000 worth of bitcoin when the commercial debuted, your crypto value would be less than half of that as of May 12.

Meanwhile, if you had purchased $1000 worth of ether when the commercial debuted, its value would also be worth less than half it was as of May 12.

Crypto prices have generally moved even lower since May, and top cryptos like bitcoin and ether are trading at their lowest levels since late 2020.

Obviously, the commercial likely had little to no impact on the crypto markets, and October represents an arbitrary starting point for any crypto-related price charting as prices for bitcoin and ether have more than tripled over the last 24 months.

See: Nancy Pelosi's husband sells $4 million worth of Nvidia stock at a major loss

Also See: Coinbase CEO says company has 'no risk of bankruptcy'

It's worth noting, however, that 40% of people who own bitcoin are upside down on that investment, according to a May CNBC report.

-Weston Blasi


(END) Dow Jones Newswires

July 27, 2022 15:06 ET (19:06 GMT)

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