It won’t come as a surprise to hear that the bosses of cryptocurrency exchange companies like to have it large. But just how large we’re talking is sure to raise a few ‘brows.
According to one Miami nightclub owner, not only would crypto bosses fill up bathtubs with champagne, but they’d even hire blockbuster acts like 50 Cent to perform and give them money to chuck around the venue.
Like we said: Living. It. Large.
Speaking to the Financial Times, Andrea Vimercati, the food and beverage director at Moxy Hotel Group, said not only would crypto heads rock up and buy ‘12 or 24 bottles’ of the most expensive champers, but they’d also ‘shower themselves in it’.
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Vimercati told the outlet: “They were booking tables for $50,000, and it was like, ‘Who the hell are these people?’”
He also said that the ‘young men’ visiting had ‘kind of a nerdy style’, emphasising that on first glance you wouldn’t suspect they ‘had lots of money’.
Gino LoPinto, the operating partner at another Miami nightclub E11even, also spoke to the FT and recalled a night in 2021 when crypto bosses paid the club a visit.
He said they were celebrating a big sale and enlisted 50 Cent to perform. Oh, and they also had bathtubs of champagne on show.
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Of the guests - who spent over $1 million - LoPinto said: “They had bathtubs of champagne brought out and gave 50 Cent a bunch of cash to throw.”
But such glory days may well be in the past, seeing as earlier this month, Crypto giant FTX filed for bankruptcy.
What’s more, CEO Sam Bankman-Fried stepped down as chief executive after having his $16 billion net worth wiped in a single day.
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Bankman-Fried was a big name in the industry and saw FTX become the second largest cryptocurrency exchange in the world.
FTX has said lawyer John J. Ray III will take over as CEO as it continues forward with bankruptcy. Ray previously oversaw the liquidation of Enron when it collapsed in 2001.
In a Twitter thread posted earlier this month, Bankman-Fried said in part: “Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.
“I'm really sorry, again, that we ended up here. Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them.”
Topics: Cryptocurrency