It's not bad news, it's good news.
Most of those ads were for phishing sites, designed to steal people's log-ins for the exchanges. It gave noobs a bad impression that the crypto space was full of scams and crooks.
Yeah, exactly.
If anybody bothered to do some research, most ads you see on google relating to crypto are phishing sites.
This is true especially with mixing services. Don't believe me? Literally search up bitmixer and the first thing you get confronted by is probably going to be a phishing link. And google wasn't doing anything about it.
I'm guessing this is why we crashed to the $8k level we are at right now. People don't realize that most crypto companies actually don't do advertising on mainstream platforms anyways, and the people who do are there to target newbies.
When people do realize it, expect the BTC value to rebound back up to $9k+.