<strong>Crypto.com Arena Begins Renovations, Samsung Files For Crypto Exchange License, Miley Cyrus Enters The Metaverse</strong>

Crypto.com Arena Begins Renovations

Crypto.com, a cryptocurrency exchange, announced its three-year plan to upgrade the Crypto.com Arena. The venue is formerly known as the Staples Center in Los Angeles, California. In 2021, the crypto exchange signed a $700 million agreement with AEG, giving it naming rights over the venue for 20 years. 

“First look: The 23-year-old venue now known as Crypto .com Arena has launched a multimillion-dollar campaign to rejuvenate itself during the offseason, with construction underway at every level,” tweeted the L.A. Times. 

During the market slump in June, Crypto.com indicated the exchange would lay off 260 employees at the time. The firm also announced that it would reduce benefits for most levels of its VISA prepaid card. Despite the restructure, the exchange has received regulatory permission in South Korea, Italy, Cyprus, and the United Kingdom.

Samsung Files For Crypto Exchange Lisence

Samsung Securities, a subsidiary of the Samsung Group, is seeking approval to operate a cryptocurrency exchange in South Korea. According to a local news outlet report, Samsung is one of seven large domestic securities companies to apply for preliminary approval to open a crypto exchange in the first half of 2023. 

The South Korean news reporter only mentioned two of the businesses, Samsung Securities and Mirae Asset Securities. Mirae is South Korea's largest investment bank by market capitalization, with $648 billion in managed assets. The exchange will be run by a subsidiary of the financial firm's consulting arm, Mirae Consulting.

The recent presidential election of Yoon Suk-Yeol is said to have sparked a surge of institutional interest in South Korea. On the campaign path, South Korea's president vowed deregulation of the bitcoin and cryptocurrency industries. “We must shift to a negative regulation system to ensure at least the virtual asset market has no worries,” Suk-Yeol said at the time.

Miley Cyrus Enters The Metaverse 

Miley Cyrus, the American singer-songwriter, has filed for several metaverses and NFT-related trademarks. The celebrity has registered two trademarks for the words MILEY and MILEY CYRUS. She plans to use the trademarks for entertainment services, virtual money management software, and virtual clothes, among other things.
“#MileyCyrus has filed trademarks for MILEY and MILEY CYRUS claiming plans for Clothing + Energy drinks, Entertainment services, Virtual currency management software, Virtual clothing, footwear, sports gear...and more!” tweeted Mike Kondoudis, a USPTO licensed trademark attorney.