Crypto.com

Crypto.com is a cryptocurrency exchange app based in Singapore. As of 2021, the app has 10 million users and 3,000 employees.[2][3]

Crypto.com
FoundedJune 2016 (2016-06)
FoundersBobby Bao
Gary Or
Kris Marszalek
Rafael Melo
Headquarters
111 North Bridge Road #08-19 Peninsula Plaza 179098
,
Singapore
ProductsCryptocurrency exchange, cryptocurrencies
Number of employees
3,000 [1] (2021)
Websitecrypto.com

History

The company was initially founded by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as "Monaco".[4] In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at USD$5-10 million.[5][6]

Crypto.com is operated by Foris DAX Asia, a Singapore-based company[7] that's a subsidiary of Foris DAX MT (Malta) Limited.

In January 2022, Crypto.com was the victim of a hack totaling $15 million in stolen Ether. After some users reported suspicious activity on their accounts, the company paused withdrawals. Withdrawal services were later restored alongside a statement from the company that no customer funds were lost.[8]

Sponsorships

Crypto.com has notable sponsorship deals with the international car racing championship Formula One, the Italian association football league Serie A, the MMA promoter UFC, the French football team Paris Saint-Germain F.C., the American NBA basketball team the Philadelphia 76ers,[9] the Canadian NHL ice hockey team the Montreal Canadiens,[10] and the charity organization Water.org.[11] The Water.org partnership included signing its co-founder, actor Matt Damon, to serve as Crypto.com's brand ambassador.[12]

In November 2021, the company acquired the naming rights to Los Angeles's Staples Center, renaming it Crypto.com Arena in a 20-year deal reported to be valued at US$700 million.[10][13]

In March 2022, the company became a sponsor for the 2022 FIFA World Cup in Qatar.[14]

References
  1. Dean, Sam (November 16, 2021). "Goodbye, Staples Center. Hello, Crypto.com Arena". Los Angeles Times. Retrieved November 17, 2021.
  2. Dean, Sam (November 16, 2021). "Goodbye, Staples Center. Hello, Crypto.com Arena". Los Angeles Times. Retrieved November 17, 2021.
  3. Russell, Jon (5 July 2018). "Crypto Visa card company Monaco just spent millions to buy Crypto.com". TechCrunch.
  4. Kaur, Jaspreet (November 17, 2021). "WHO OWNS CRYPTO.COM, AS STAPLES CENTER RE-NAMED IN LANDMARK DEAL?". hitc.com. Retrieved January 1, 2022.
  5. Robertson, Adi (July 6, 2018). "Crypto.com, the multimillion-dollar cryptography domain whose owner refused to sell, has been sold". The Verge. Retrieved January 1, 2022.
  6. Szalay, Eva; Germano, Sara; Grimes, Christopher (November 20, 2021). "Rise of Crypto.com: from university blog to home of the LA Lakers". Financial Times. Retrieved January 1, 2022.
  7. "Singapore clamps down on ads for 'highly risky' crypto trading". Nikkei Asia. Retrieved 2022-02-04.
  8. Lau, Yvonne (January 18, 2022). "Crypto.com says 'all funds are safe' after alleged hack, but analysis shows $15 million of Ether is gone". Fortune. Archived from the original on January 18, 2022. Retrieved January 19, 2022.
  9. Rosen, Lauren (September 21, 2021). "76ers, Crypto.com Announce Jersey Patch Partnership". Sixers.com (Press release). NBA Media Ventures, LLC. Retrieved September 23, 2021.{{cite press release}}: CS1 maint: url-status (link)
  10. "Staples Center to become Crypto.com Arena in reported $700 million naming rights deal". ESPN. November 16, 2021. Retrieved November 17, 2021.
  11. Conway, Jeff. "Matt Damon announces Water.org partnership with Crypto.com". forbes.com. Retrieved January 11, 2022.
  12. Bhasin, Kim (October 28, 2021). "Matt Damon is the Face of Crypto.com". Bloomberg. Archived from the original on 2021-10-28.
  13. Hirtenstein, Anna (November 17, 2021). "Staples Center in L.A. to Be Renamed Crypto.com Arena". Wall Street Journal. Retrieved November 18, 2021.
  14. "Crypto.com unveiled as FIFA World Cup Qatar 2022 Official Sponsor". FIFA. March 22, 2022. Retrieved March 29, 2022.
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