Singapore-based centralized exchange Crypto.com has signed another huge sponsorship deal, as the result of which the iconic sports area in downtown Los Angeles that is currently known as “Staples Center” will be renamed to “Crypto.com Arena”.
— Rob XRP ☀️ (@robxrp1) June 25, 2022
- Staples Center is “owned and operated by the Arturo L.A. Arena Company and Anschutz Entertainment Group (AEG); it serves as home venue for the Los Angeles Kings of the National Hockey League (NHL), as well as the Los Angeles Lakers and the Los Angeles Clippers of the National Basketball Association (NBA), and the Los Angeles Sparks of the Women’s National Basketball Association (WNBA).duacrypto.comIt’s worth noting McCaleb’s large XRP sales continued even after the cryptocurrency endured a major sell-off over the U.S. Securities and Exchange Commission’s (SEC’s) lawsuit against Ripple Labs last year. The SEC has alleged Ripple and two of its executives “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.”
The renaming of the iconic sports arena marks a significant step forward for the mainstream adoption of cryptocurrencies. With this move, Crypto.com has taken a bold step to raise awareness of cryptocurrencies and blockchain technology among the masses.
The $700 million investment is aimed at expanding the company’s global presence and accelerating the development of its blockchain-based platform. It will also help the company to improve its products and services, and provide a better user experience to its customers
The CEO of Crypto.com, Kris Marszalek, stated that the investment reflects the company’s commitment to building a more inclusive financial system that empowers people around the world. He also emphasized the company’s focus on providing a seamless and secure platform for users to buy, sell, and trade cryptocurrencies.
The move by Crypto.com comes at a time when the cryptocurrency market is witnessing tremendous growth and interest from mainstream investors. The company’s investment in the future of crypto is a testament to its belief in the potential of this new asset class.
Overall, the renaming of the Staples Center to the Crypto.com Arena and the $700 million investment in the future of cryptocurrencies are significant milestones for the industry. It remains to be seen how this investment will impact the adoption and mainstream acceptance of cryptocurrencies, but it certainly signals a positive development for the industry as a whole.