The fallout from the collapse of FTX spans beyond the Web3 and crypto ecosystem.
Andrea Vimercati, director of food and beverage at the Moxy Hotel group, told the Financial Times: “They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking.”
However, the unexpected implosion of FTX, loss of funds and fall in the value of cryptocurrencies have completely changed the nightlife scene in Miami.
However, over the last three months, the club has only recorded about $10,000 worth of transactions.
On Nov. 28, BlockFi announced that it had filed for Chapter 11 bankruptcy, citing the collapse for its troubles.
Source: Cointelegraph