Judged by arena naming rights, Crypto.com is next

Businessman said:
Does that table show what the company owns directly on behalf of customers, ie. customer positions, or what the company has decided to speculate in, using customer funds and/or their own reserves?
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Good question. I am afraid it is the later...
 
Pekelo said:
You may remember my after the Super Bowl thread correctly calling for a crypto winter and BTC under 20K, here is the new one:

Arena naming rights. When a VC or crypto firm buys those rights, they are going down. I mean hard. Buying those rights is almost always an over reach. (aka hubris) There are currently 2 stadiums named by crypto firms, FTX Arena in Miami (oh no!!!) and Crypto.com Center in Los Angeles. (Staples sounded much better)

One already down, one more to go...

"FTX secured naming rights to the Miami Heat basketball team's stadium in March 2021 in a reported $135 million, 19-year deal. Crypto.com took an even bigger swing, committing $700 million for 20 years' worth of naming rights for the former Staples Center, iconic home of the L.A. Lakers, in November 2021."

We already know about FTX so let's see how Crypto.com is doing?:

https://www.cryptopolitan.com/is-crypto-com-facing-threats-of-bankruptcy/
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Well there are always new firms popping up wanting to take over the naming rights...

Adult Website Offers Miami Heat $10 Million For Arena Naming Rights After FTX Collapse
https://brobible.com/sports/article/miami-heat-naming-rights-ftx/


Probably more reputable than FTX. :)
 
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