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The collapse of cryptocurrencies is also felt in Miami nightclubs

E11leven in Miami, one of the clubs preferred by crypto millionaires. | Font: E11EVEN

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A crisis FTX accompanied by a decline in wealth and prestige Sam Bankman-Fried This is one of the many events that negatively affected the world of cryptocurrencies in 2022.

FROM bitcoin is worth a quarter of its all-time high, other currencies are also not doing very well. It caused less crypto millionaires spending money at night Miamithis.

Crypto Millionaires Take Over Miami

The iconic city has become a favorite destination for crypto investors thanks to low taxes and fewer restrictions amid the coronavirus pandemic. COVID-19.

These entrepreneurs, many of whom became overnight millionaires, did not hesitate to show off their wealth.

Andrea Vimercati, former director of a company that owns several nightclubs in Miamitells how crypto millionaires booked tables in nightclubs for $50,000.

These new clients were “95% male, young… with a nerdy vibe. You couldn’t tell they had a lot of money just by watching them walk,” he explained. Finance once.

“They wanted to show that they have no limits. They ordered 12 or 24 bottles of the most expensive champagne and bathed in it without even drinking it,” he said.

Gino LoPinto of nightclub E11even revealed how the group that sold their cryptocurrency company celebrated the show with the rapper. 50 centsspending over $1 million.

These clubs have started accepting payments in cryptocurrencies. Crypto millionaires also liked to show off their digital wallets. “I saw more cryptocurrency wallets in a year than bank accounts in my entire life,” LoPinto recalls.

The fall of cryptocurrencies and its consequences in Miami

These nightclubs seem to have lost their customers and their big spending.

E11even received payments in cryptocurrencies for $6 million in 2021, but he has barely registered $10k in the last three months.

Source: RPP

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