Friday, October 7, 2022

Report: Crypto.com In Marketing Meltdown

A new report, from Ad Age, says that Crypto.com, the cryptocurrency exchange which has the naming rights to the Los Angeles Crypto.com Arena, is in a marketing meltdown, and has reduced 30-40 percent of its headcount between June and August. Those cuts in staff equal more than 2,000 employees leaving the company, mostly due to layoffs, says the story. The Ad Age article attributes the cuts to a "crypto-winter" which has hit the industry. Crypto.com Arena is home to the Los Angeles Kings, Los Angeles Lakers, Los Angeles Clippers, and the Los Angeles Sparks, and used to be known as the Staples Center.