Spike Lee decries old money elite in ad for crypto ATM company Coin Cloud

In all the talk of cryptocurrency, little mention is made of actually using it as money, rather than as a speculative investment. But for millions of unbanked and underbanked Americans, digital currency has the potential to help them get around the barriers set up by the traditional banking system, with its minimum balances, overdraft fees and credit checks.

Related article: Why Spike Lee's new crypto ad is drawing backlash

Academy Award winner Spike Lee directs and stars in a new campaign for Coin Cloud, which operates digital currency machines—ATMs for crypto cash. In a spot shot on the streets of New York and Wall Street itself, he denounces “old money” and calls out the different and unequal financial systems that serve the rich and the rest of us.

“They call it green, but it’s only white,” Lee says. New money is fluid and inclusive, he adds, with each point paired with the faces of people of color, women, indigenous people or sexual or gender minorities, all of whom have been held back by systems built by and for the wealthy elite. Trans actor Mj Rodriguez, drag queen Shangela, singer-songwriter Teyana Taylor and actor-activist Kendrick Sampson all make appearances.

“For me, this campaign is as much a prophecy as it is a look at where we’ve been,” said Amondo Redmond, global chief marketing officer at Coin Cloud, in a statement. “Beyond generating awareness, my vision is that this campaign not only sparks important dialogue but introduces marginalized communities to an innovative, new and inclusive way to take control of and grow their wealth.”

It's not going without backlash. Critics say the ad paints cryptocurrency as accessible and an equalizer when, in reality, the digital coinage is being powered by the wealthy elite.

The spot is produced by Lee’s 40 Acres and a Mule Filmworks, with creative and media by Campbell Ewald. It's running nationally on cable channels, YouTube, Roku and Reddit. 

Related article: Why Spike Lee's new crypto ad is drawing backlash