Crypto.com

Prolific sports investor and crypto firm Crypto.com has reneged on a $500 billion sponsorship contract with the UEFA Champions league. Crypto.com had previously stepped up as an investor when the Union of European Football Association (UEFA) dropped its principal sponsor, Gazprom. At the time, UEFA had cited Gazprom's affiliation with Russia as its reason for the drop. Consequently, Crypto.com stepped up to bag in a deal that would last 5 seasons. The supposed contract would cost approximately $100 million annually…

Singapore-based crypto exchange Crypto.com has secured a license from the Cyprus Securities and Exchange Commission (CySEC). The exchange announced this achievement through a tweet earlier today. [embed]https://twitter.com/cryptocom/status/1550449386253348864?s=21&t=-MgdKJarz3iJ0KxGmqQy3Q[/embed] Through this license, Crypto.com can now offer Cyprus citizens a suite of products and services in a regulated environment. Commenting on this development, Crypto.com CEO Kris Marszalek said: Europe is a priority region for Crypto.com and our continued expansion in the market is a testament to our commitment to compliance and collaboration with…

As the crypto market and related businesses suffer, some of the industry's biggest players are now announcing job cuts. BlockFi – a popular crypto lending platform – has confirmed that it will be cutting its headcount by as much as 20%. Crypto Companies Start Downsizing In a Twitter thread posted by BlockFi’s CEO on Monday, Zac Prince clarified that the layoffs will not impact customer experience or funds. However, he expressed deep regret about the decision, saying it had not…

A good example of a cryptocurrency company attempting to increase its profile through professional athletics is Crypto.com's sponsorship of the 2022 FIFA World Cup in Qatar. FIFA and Crypto.com have struck a new deal to promote the exchange inside and outside the World Cup stadiums. As a reminder, the competition will occur in Qatar from November through December. A Few Words about Crypto.com Presently, Crypto.com includes over 10 million users, and more than 4,000 staff spread throughout the Americas, Europe,…

A crypto exchange Crypto.com confirmed that hackers stole nearly $34 million during Monday's hack. In a Tuesday update, the exchange revealed that hackers stole 443.93 bitcoin ($18.7 million), 4835.25 ether ($15.2 million) and approximately $66,200 in USD. The company faced criticism over its communication after the incident. The company's CEO only confirmed the hack on Wednesday, three days after it took place. In total, the hack affected 483 users. However, Crypto.com said that they fully reimbursed all of them. The…

Crypto.com has taken yet another foray into the highly crypto-loving world of sports. The exchange recently signed a 5-year deal with The Australian Football League (AFL) to finance the Toyota AFL Premiership Season. It’ll also support the NAB AFL Women’s championship, making it the first crypto platform to sponsor a women’s sports contest. Crypto.com Partners w/ AFL The exchange announced its new partnership in a blog post earlier today. The deal makes Crypto.com the “Official Cryptocurrency Exchange and Official Cryptocurrency…

While Crypto.com’s advertising spree sees no sign of slowing down, it hasn’t been sitting well with all parties. The digital asset exchange recently had two of its ads banned by UK regulators for containing misleading content. This comes following intense public scrutiny of another of the company’s ads featuring Matt Damon. Encouraging Risky Behavior The UK’s Advertising Standards Authority (ASA) reported the bans on Wednesday. The first of the ads mentioned appeared in the Daily Mail app on September 1st.…

Crypto exchange Crypto.com launched its NFT collection - inspired by Mars. The drop was a part of the promotion and their brand film - Fortune Favors the Brave. In addition, the exchange gave out NFTs to users that found a hidden QR code in the commercial. The film, featuring Matt Damon, showed the code in only a single frame. The NFT series contains five unique art pieces with a limited number of copies. The NFTs feature 3D renders of Mars landscapes, together…

Crypto exchange Crypto.com is rolling out an over-the-counter solution (OTC) for its institutional and VIP clients. Meanwhile, the exchange's native token is at its all-time highs. On Monday, the company shared a press release about the new solution for its VIP clients. The new portal will allow them to receive instant quotes for large OTC trades. Currently, traders often have to make these trades manually. The solution would let institutional investors and a few VIP retail traders buy and sell…