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.
This will be one of the reason why they ban the ads. Most of the people just dont get it. In my country 60% of the population thinks crypto is a kind of modern scam, because the media only reported the news about the people who got scammed by scammers. Now that more people are aware about cryptocurrency, then the social media is the best place to do the scam via advertisement.