As was clear from the marketing, Spider-Man: Far From Home gets a lot of mileage out of the death of Iron Man in Avengers: Endgame, with Peter Parker’s character arc in the movie revolving around his grief over the loss of his mentor. But the sequel also reveals that a second Avenger is believed dead by the rest of the world.
Far From Home kicks off with a badly-made memorial video in honor of Tony Stark, complete with “I Will Always Love You” playing over the top. However, it also does the same for Captain America. This makes it clear that Steve Rogers is believed to be dead after the reversal of the Snap. So, it seems the world at large doesn’t know about all the time travel stuff that went on and is simply aware that Cap went missing, not that he hopped back to the past permanently.
This raises the interesting question of how much the public knows about what the Avengers did to save the day and stop Thanos. In fact, does the world even know about the existence of Thanos and the Infinity Gauntlet? Perhaps not, as FFH gives us the official in-universe name for the Decimation as the Blip rather than the Snap. Maybe all that folks (think they) know is that Iron Man and Captain America sacrificed their lives to bring everyone who was dusted back.
The same goes for Black Widow and Vision, who are also pictured alongside Steve and Tony. Those are the other two Earth-bound heroes who either died or remained dead in Endgame. Of course, fans were annoyed by the lack of a funeral for Natasha Romanoff, and we didn’t learn in Spider-Man: Far From Home if her demise on Vormir was known about outside of the Avengers, but now it appears that she’s still being mourned alongside the others. Though clearly not as much as Iron Man.
