According to nightclub owners, young, nerdy crypto bros went from lavishly spending on champagne showers and purchasing $50,000 tables at clubs to disappearing completely from the nightlife scene.
The young, nouveau riche entrepreneurs walked around the clubs with their digital wallets out, bragging about how much money they were making. The Moxy Hotel group’s director of food and beverage, Andrea Vimercati, told the Financial Times:
“They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking.”
However, the unexpected implosion of FTX, loss of funds, and decline in the value of cryptocurrencies have completely altered the Miami nightlife scene. Following the collapse of FTX, the young crypto entrepreneurs who once splurged in nightclubs appear to have vanished.
Many businesses and individuals have been impacted by the demise of FTX. On November 28, BlockFi announced that it had filed for Chapter 11 bankruptcy protection, blaming its problems on the collapse.
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.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
This website uses cookies.