A year later, the industry has been humbled by a massive downturn in crypto prices, as well as the bankruptcy of several well-known companies.
While Crypto.com still is operating, the company is significantly less healthy than it was a year earlier.
Like FTX, Crypto.com tried to make a name for itself through sports sponsorships. The company spent $700 million for the naming rights to the former Staples Center, where the Los Angeles Lakers play. It's now the Crypto.com Arena. The company's 2022 Super Bowl ad featured basketball superstar LeBron James, with the tagline “fortune favors the brave.”
Shares of publicly traded Coinbase have fallen by more than 70% since last year’s game. With digital currencies such as bitcoin plunging, the company has seen trading revenues dry up as investors have avoided buying crypto altogether.and the company’s CEO has said the company is bracing for what they are calling “a crypto winter.”pay $100 million to settle
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