Share this article
Crypto Ad Spending Slowdown Contributes to Google’s Soft Quarter
The company's ad growth in the third quarter was its slowest in nine years.
Updated May 9, 2023, 4:00 a.m. Published Oct 26, 2022, 2:42 p.m.
Google reported its softest advertising growth in nine years late Tuesday, with company management taking note of softer crypto ad spending as contributing to the weak numbers.
"We did see a pullback in spend by some advertisers in certain areas in search,” Chief Business Officer Philipp Schindler said on a call with analysts after the company reported earnings. “We saw a pullback in the insurance, loan, mortgage and crypto subcategories.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Overall ad growth of 6% in the third quarter was the softest since 2013, CNBC reported, with YouTube ad revenue slipping to $7.1 billion from $7.2 billion from the third quarter a year ago.
“While travel and retail were again the largest contributors to growth, Google did see a pullback in spend in the financial-services vertical from insurance, loan, mortgage and crypto advertisers,” Canaccord Genuity analyst Maria Ripps wrote in a note to clients.
“Network and YouTube also faced difficult comps and FX headwinds, with management adding that the pull back in spend from brands due to broader macroeconomic uncertainty that started in Q2 increased during Q3," she added.
Shares of Alphabet (GOOGL), Google's parent company, were down 7.5% on Wednesday morning.
Read more: Google Partners With Coinbase to Accept Crypto Payments for Cloud Services
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mais para você
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
O que saber:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
