Friday, January 13, 2023
Crypto.com Cuts 20 Percent
Singapore-based Crypto.com--the cryptocurrency company which owns the naming rights to the Crypto.com Arena in Los Angeles--has cut 20 percent of its staff, citing "economic headwinds" and "unforeseeable" events in the crypto industry. The cuts
reportedly impacted more than 2,000 people. Crypto.com blamed the collapse of FTX. Crypto.com bought the naming rights to what was the Staples Center, the home of the Lakers and the Sparks, back in 2021; the company agreed to pay $700M in that naming rights deal.