Frazer Harrison is a photographer.
Since the exchange announced it had secured the naming rights to the home of the Los Angeles Lakers and the Los Angeles Clippers, the coin has surged.
The price of crypt.com jumped to $0.7536 on Monday, reflecting a 91% increase from its November 17 price. The coin hit an all-time high of $0.7984 on Sunday, which was a 103% rise from when the exchange announced the news.
The token of the Singapore-based platform became the 13th largest by market cap. It now has a valuation of $19 billion, up $10 billion from last Tuesday.
The company made headlines last week when it signed a 20-year naming rights deal with the owner of the Staples Center.
The official home of the Los Angeles Lakers will be named after a website.
The deal paid for itself 13 times over, it was difficult to untangle token distribution and who benefited from it. The chief strategy officer at CoinShares said on the social networking site.
This isn't the first push by the exchange. In order to broaden the name recognition of the platfom, the company enlisted Hollywood star Matt Damon.
FTX followed a similar move to operate a platform that allows people to buy and sell cryptocurrencies.
Sam Bankman-Fried's exchange has bought the naming rights to the home of the Miami Heat, now known as FTX Arena. It has a roster of stars that includes Tom Brady and Stephen Curry, as well as MLB player Shohei Ohtani.
Business Insider has an original article.
