- The actor clarified that it was an attempt to raise funds for his charity organization Water.org.
- The exchange contributed almost $1 million after the advertisement.
Matt Damon, the American film actor, producer, and screenwriter, who had been ridiculed for being a part of the infamous advertisement of the crypto exchange Crypto.com, revealed that the advertisement was an attempt to raise money for his clean water initiative Water.org.
On March 27, while he appeared for the premiere of his new film, AIR, he spoke to the Associated Press, clarifying his agenda for participating in Crypto.com’s advertisement titled “Fortune Favors the Brave,” released in October 2021.
Significantly, Damon proclaimed that the crypto exchange, in reward of the ad, contributed almost $1 million to his charity organization Water.org. He added that it was a time when the organization had insufficient funds; he promised the exchange that he would work with them for the organization’s well-being.
Damon added that he has a lot of gratitude towards the company, quoting:
And I did that commercial in an attempt to raise money for water.org. And I gave my whole salary to water.org because we were down. And Crypto.com heard about that, and they gave $1 million to water.org just on their own. So I definitely have a lot of gratitude to them for what they did for our foundation.
Following the release of the advertisement, both the ad and the actor received wide criticism, arguing that Damon has misused his popularity to drag innumerable inexperienced investors into a volatile market.
For instance, the satirical TV show South Park roasted Crypto.com and Damon, commenting that the investors have lost their money believing the words of the actor. Similarly, the late-night TV host Stephen Colbert also laughed at the ad, creating parodies and jokes targeting the actor.