Exciting news in the world of cryptocurrency! Crypto.com may be shutting down a portion of its business, but its name will remain on the iconic downtown Los Angeles arena that hosts the Lakers, Clippers, Kings, and Sparks. That’s right, the Crypto.com Arena is here to stay!
While the company is closing its institutional exchange in the US, which helped large investors trade in and out of positions in cryptocurrency, its app will continue to serve small investors. And with multiple millions of users, the app is still going strong.
Let’s not forget that Crypto.com made headlines when it purchased the naming rights to the arena from Anschutz Entertainment Group (AEG) for a whopping $700 million. The deal secured the Crypto.com name on the venue for 20 years, replacing its former name, Staples Center.
It’s worth noting that stadium and arena names change frequently in sports as corporate fortunes wax and wane. But for now, we can all enjoy the Crypto.com Arena and the exciting events it hosts. In fact, the NBA recently saw the Miami Heat’s FTX Arena sell its naming rights to a software company after FTX went bankrupt in a massive scandal. So, let’s appreciate the stability and longevity of the Crypto.com Arena!
