Crypto.com Prepares To Upgrade $700 Million Sports Stadium

Despite the fact that company activities have not been particularly lucrative in comparison to the overall market condition, the Crypto.com exchange continues to defy plans to significantly upgrade its sports field worth hundreds of millions of dollars.

On August 22, cryptocurrency exchange Crypto.com released a video of some of the changes they plan to build at the Staples Center – Los Angeles’ iconic sports stadium, where Crypto.com spent $700 million on naming rights in November 2021.

The exchange decided to upgrade Staples Center to compete with other competitors such as Binance, FTX, Bybit, etc. in terms of brand extension through the sports field even though the exchange had previously cut 5% of its staff.

Last year, Crypto.com signed a 20-year cooperation deal worth $700 million with Anschutz Entertainment Group (AEG), which owns the Staples Center and the L.A. Live.

As part of the agreement, Crypto.com has acquired the naming rights to the Staples Center, the Los Angeles Lakers home of the NBA team.

The community’s reaction to the Staples Center stadium overhaul updates across the globe has been unsatisfactory, as they claim that the exchange has recently been neglecting its core products that the exchange is providing to users.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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