The truth behind Matt Damon and the controversial crypto commercial

When Matt Damon appeared in the controversial “Fortune favors the brave” ad for Crypto.com in 2021, few imagined the mockery that would follow. But now, the Hollywood star has finally revealed the true reason behind that appearance that changed his public reputation.

From the financial crisis to the screen: how Water.org brought Matt Damon into the crypto world

During an interview with Associated Press on March 27, Damon explained somewhat uncomfortably that the decision was not impulsive. His clean water organization, Water.org, was going through a critically difficult time financially. “We had a bad year at Water.org, and I did that commercial in an attempt to raise money for Water.org,” the actor shared at the premiere of his new movie.

Damon founded Water.org in 2009 along with engineer and philanthropist Gary White with a clear mission: to expand global access to clean water. The organization provides small loans to vulnerable communities so they can acquire and install basic water and sanitation systems. Given the urgent nature of their work, Damon had already made sacrificial decisions for the foundation, donating even all of his earnings on previous occasions when facing budget difficulties.

The unexpected support from Crypto.com: a million reasons

What followed was even more revealing. According to the actor’s testimony, Crypto.com executives learned of Water.org’s critical situation and decided to act. “Crypto.com found out about that and gave $1 million to Water.org on their own,” Damon revealed, expressing his gratitude. “I definitely have a lot of gratitude for what they did for our foundation.”

The ad itself was ambitious in its conception, featuring Damon in a digital scene populated by iconic historical figures like the Wright brothers and Sir Edmund Hillary. The spot reached billboards and television screens worldwide, positioning both the actor and the platform in the media spotlight.

From recognition to ridicule: how the narrative twisted

However, what started as a philanthropic gesture turned into a symbol of excess during the 2022 cryptocurrency crash. The ad, which originally aimed to convey ambition and progress, was reinterpreted as an ignored warning about the sector’s risks. Damon became the target of relentless criticism and widespread mockery, from sketches on South Park to satirical monologues by late-night hosts like Stephen Colbert.

Despite the subsequent jokes and damaged reputation, the actor maintains his perspective: the original goal — raising funds for Water.org — was achieved thanks to Crypto.com’s contribution. For Damon, the subsequent controversy is an acceptable price if it means more faucets and toilets in communities without access to clean water.