Crypto.com To Spend $700 Million To Rename Staples Center In Los Angeles

Twitter icon  •  Published 6 months ago  •  Hassan Maishera

Crypto.com is one of the leading cryptocurrency exchanges in the world, and it has been spending big on sports sponsorships in recent months.

Crypto.com To Rename Staples Center

Leading crypto exchanges Coinbase and FTX have been expanding awareness of cryptocurrencies and their platforms via sporting partnerships and sponsorships. FTX secured the naming rights to the Miami Heats Stadium earlier this year, and it is now known as the FTX Arena.

However, Crypto.com is taking it to another level. The crypto exchange announced earlier today that it had secured the naming rights to the Staples Center in Los Angeles. The basketball stadium will soon be called the Crypto.com Arena, and the deal will become official on Christmas day.

The deal between Crypto.com and AEG is worth $700 million, according to multiple reports. As part of the deal, Crypto.com has become the AEG is worth $700 million, according to multiple reports.

Crypto.com’s chief executive, Kris Marszalek, stated that he hopes that the new name will come to be seen as a sign of the times. He added that “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream. This is just such a brilliant move from the guys at AEG because the next decade belongs to crypto. And this positions L.A. and this particular venue right at the center of it.”

AEG’s Chief Executive Dan Beckerman pointed out that a blockchain finance company was just the thing for downtown L.A. “Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events,” he added.

Crypto.com has been spending big on adverts and sporting partnerships in recent months. The crypto exchange is an official partner to some sporting institutions like Paris Saint Germain. It also featured Matt Damon in its latest ad.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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