Miami nightclub owners are struggling
with slumping sales after losing top-spending
crypto clientele in wake of FTX implosion
and crypto downfall, report says
Business Insider,
by
Bethany Biron
Original Article
Posted By: Dreadnought,
11/28/2022 1:02:30 AM
Crypto leaders aren't the only ones feeling the blow of the cratering market and the downfall of FTX — so too are the Miami club owners who profited from regularly hosting some of the industry's top spenders.
Requests for $50,000 tables and bottle service for top-shelf liquor at the city's hottest venues are drying up, according to a new report from the Financial Times. The scene has become so bleak that Andrea Vimercati, director of food and beverage at Moxy Hotel group, told the outlet that high-rolling crypto regulars have "completely disappeared."
Miami became a hotbed for crypto enthusiasts, tech execs, and hedge fund managers
Reply 1 - Posted by:
watashiyo 11/28/2022 2:46:53 AM (No. 1343799)
Where's the sympathy for the FTX clients who lost all their investments?
17 people like this.
Reply 2 - Posted by:
NullUnit60 11/28/2022 4:12:28 AM (No. 1343804)
Pop goes the weasel!
#1, sympathy for folks like Sam Bankman-Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Golden State Warriors (yes, the entire club), Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O’Leary? They can collectively cry me a river called "deNile".
12 people like this.
Reply 3 - Posted by:
varkdriver 11/28/2022 5:20:26 AM (No. 1343818)
Not to mention hundreds and hundreds of hard-working Miami "ladies of the evening" (does anyone still use that phrase, or am I showing my age?)...
11 people like this.
Reply 4 - Posted by:
lakerman1 11/28/2022 6:49:45 AM (No. 1343885)
Hard tobelieve, but true, Kevin OLeary was heavily invested in cryptocurrence. He seems to be too intelligent and clever to get caught up in that stupidity.
4 people like this.
Reply 5 - Posted by:
F15 Gork 11/28/2022 7:04:18 AM (No. 1343897)
I’m not the sharpest knife in the drawer but the idea of investing in a system backed by God only knows what seemed like a Pretty big leap of faith.....unless you were first in and first out. Take one look at this Sam Clown and you knew this was a scam.....reminded me of the silver boom and the Canadian stock market back in the 70’s. Both went bust.
11 people like this.
Reply 6 - Posted by:
chumley 11/28/2022 7:10:57 AM (No. 1343905)
My sympathy meter has not budged. I drink on-sale beer, cheap rotgut whiskey or moonshine in my basement bar. Not as many chicks, but way cheaper and I'm already home so I dont have to drive.
14 people like this.
Reply 7 - Posted by:
Californian 11/28/2022 8:13:04 AM (No. 1343936)
1, sympathy for what?
The rest of us have been saying for years that crypto "currency" is a scam backed by nothing.
Greedy dumb people didn't listen and got burned.
In the meantime these scammers partied their butts off on other people's money. Fun while it lasted (for them), I suppose but now the party is literally over.
I saw the same thing in the dotcom era. Mostly younger people claiming they were doing new things and the laws of supply, demand, and traditional economic forces no longer applied. Wrong.
6 people like this.
Reply 8 - Posted by:
bigfatslob 11/28/2022 8:18:01 AM (No. 1343942)
'High rolling crypto customers' more like a pack of goofballs scammed by some fat vegan loser sitting on a bean bag with his partner Olive Oil as the accountant. These self-appointed elites sure got fleeced and I care nothing about them. Let's go Suckers.
9 people like this.
Reply 9 - Posted by:
LC Chihuahua 11/28/2022 8:48:52 AM (No. 1343965)
I understand investing in something that holds its value better than the dollar, but that 'something' was never crypto currency. Way too much risk. What surprised me was the Miami night clubs were accepting crypto currency. Are they still accepting it? The article did not say. Regardless, the big crypto spenders lost their shirts. Nobody is buying crypto. Personally hope it never rebounds. It was a scam from the start.
7 people like this.
Reply 10 - Posted by:
DVC 11/28/2022 9:06:12 AM (No. 1343983)
Crypto "currencies" have always been a scam. Always will be. Anything that exists only inside of a computer is NOT REAL. If there is no physical thing, then it is just imaginary. And yet people were fooled into giving REAL money for this imaginary "currency", which could then be stolen, moved, changed in value, or just erased at the will of the programmers.
Hard, immutible fact. Cryptocurrencies are scam.
7 people like this.
Reply 11 - Posted by:
MickTurn 11/28/2022 9:06:40 AM (No. 1343986)
More Stupid Democraps losing money, so tell us what is the real problem?
4 people like this.
Reply 12 - Posted by:
ironchefw 11/28/2022 9:32:51 AM (No. 1344030)
You were getting $50,000 a table?
FTX shuts down for a few minutes and you're about to go out of business?
No sympathy from me.
Just a scammer preying on another scammer.
8 people like this.
Well....who the hell cares ?
7 people like this.
Easy come, easy go.
2 people like this.
Reply 15 - Posted by:
FLCracker 11/28/2022 10:58:29 AM (No. 1344120)
Maybe those FTX people should take up speculation in tulip-bulbs.
It worked so well for the Dutch -- for awhile.
2 people like this.
Reply 16 - Posted by:
mc squared 11/28/2022 11:24:58 AM (No. 1344141)
The American dollar was the most solid investment around the world because it was backed by the US government.
Crypto currency is backed by what - tomorrow's investors? They're no longer there.
4 people like this.
I'll take that $50k table! You do take Monopoly money, right?
0 people like this.
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