The Currency News – Recent Crypto News | Price Updates & Indexes

After staff cuts, Crypto.com Pushes Forward With Millions of Dollar modernization of Staples Center 

Crypto.com staff cuts

After staff cuts, Crypto.com Pushes Forward With Millions of Dollar modernization of Staples Center

After staff cuts, a registered user of a Crypto.com said Brave of them… maybe fortune favored them, in retaliation to an artist’s actions of the refurbishment.

After staff cuts, Crypto.com Pushes Forward of Staples Center

In defiance of announcing that it would reduce its staff by abruptly 5% in the month of June and the recent decline of the market, cryptocurrency trade Crypto has been moving forward with an accord to change the corporate image of the Los Angeles-based venue which was known as the Staples Center without any break.

In a tweet which was tweeted on Monday, website introduced an artist’s contribution of some of the modifications it organized to put into effect at the iconic arena in a reported and soon expected “multimillion-dollar campaign” in front of many vital sports teams begin playing later in 2022. Some of the modifications included new concession stands and jumbo screens, additionally a terrace commanding a view of the downtown Los Angeles area.

The crypto trade signed a $700-million accord with the proprietor of the arena AEG in November 2021, giving the naming rights of the venue to website for 20 years. In October 2021, a well-known Hollywood star Matt Damon promoted the platform in an ad campaign that later circulated very vigorously over the internet and social media. But, many inside and outside the crypto space later mocked Daemon’s appearance “Fortune Favors the Brave” tagline.

In the middle of the fall of the market in June, website CEO Kris Marszalek made a statement that the trade would be cutting 260 employees from the company labour force or 5% of all the staff at the time. Additionally, the company announced that in May it would be making a cut from staking prizes for its Cronos (CRO) token for most levels of its VISA prepaid card. In spite of renovation, the trade has pushed forward by gaining a regulatory license in Italy,  South Korea, the United Kingdom and Cyprus.

There were different mixed reactions from crypto users and Angelenos on social media platforms, some of them were indicating their vexation and anger with the decision of the company to reduce the amount of staking rewards and others made connections to its ad campaign.

“Brave of them… maybe fortune favour them,”  Redditor DadofHome stated.

According to the statistics of Cointelegraph Market, the price of CRO tokens has experienced a fall of abruptly 16% in the last some days,  at the time of publication earning $0.1257.

Exit mobile version