The downfall of the onetime multibillionaire holds lessons for investors and regulators alike.
Los Angeles’ Crypto.com Arena – home to the LA Lakers basketball team – was known as Staples Center when sponsored by the US office supplies retailer.
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Cryptocurrency customers and sports fans have crossover demographics, but an advertising splurge could distract from solving deeper problems.
Crypto trading platforms Celsius and Voyager filed for bankruptcy in July 2022, suspending all withdrawals, swaps and transfers between accounts and leaving users’ assets trapped inside their platforms.
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