Crypto.com upsets the UKThe U.K. piles onto Crypto.com’s 2022 sell-off as the native token struggles to maintain last year's gains.
- The token is down 6% in Friday morning trading, now down over 12% in January so far as part of a wider crypto sell-off.
- It’s been drawn into a crypto crackdown across the pond. The U.K.’s ad regulator has banned two of its promos for being “irresponsible” and “misleading”.
- Some think the coin has simply risen too fast after its 230% gains in November. As investors dump risky bets in the face of a hawkish Fed and rising Covid cases, it looks like this could be one of the first to go.
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Crypto.com is widening its global footprintCrypto.com wants to expand its U.S. presence, and it's willing to spend the money to get there.
- It’ll spend $216m to buy two U.S. exchanges, the Nadex derivatives exchange and The Small Exchange (which boasts Citadel as an investor).
- It comes the day after a new partnership with U.S. bank Silvergate to allow institutional clients to use US dollars on the exchange.
- Its native token was up 7% in early Wednesday trading. It gained 227% last month after a headline-grabbing naming rights deal with the Crypto.com arena (formerly the LA Staples Center).
Illustration by TradingView
Crypto.com enters the big leaguesIt’s nothing but net for Crypto.com’s native token after the the LA Staples center gets renamed as the Crypto.com Arena.
- Its native token flew 67% on Wednesday to hit new all-time highs, now up 167% this month.
- Crypto.com is the new sponsor of the iconic LA arena, taking over from Staples in a deal said to be worth up to $700m – the biggest naming rights deal in U.S. sports history.
- This is only the beginning. Crypto.com wants to be a “top brand” in coming years, with plans to target Apple and Nike partnerships next.
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Crypto.com Coin gets crazyCrypto.com’s native CRO token rides the momentum of its Coinbase listing to crazy new highs on Monday.
- CRO is up 112% this month and is up over 560% from its lowest levels in July after Coinbase listed the token.
- Crypto.com gives Coinbase a run for its money as a crypto exchange on the world stage, and often the rivals won’t list their competitor's native currency – clearly the demand was big enough to sway Coinbase this time around.
- Crypto.com recently launched a $100m advertising campaign for itself and its crypto, with red carpet celebs like Matt Damon vouching for the platform.