Connect with us

Business

Staples Centre to be renamed Crypto.com Arena

The Staples Center, home of the Lakers and other professional sports teams would rebrand as Crypto.com Arena, named after a cryptocurrency platform based in Singapore. The change will be made on Christmas Day.

Published

on

The Staples Center, home of the Lakers and other professional sports teams would rebrand as Crypto.com Arena, named after a cryptocurrency platform based in Singapore. The change will be made on Christmas Day.

Crypto.com is a trading and services platform for exchanging Bitcoin, Ethereum, Dogecoin and other virtual currencies. Crypto.com struck the 20-year naming-rights agreement with A.E.G.

The arena has been named after the office supply company based in Massachusetts since it opened in 1999. The Staples Centre opened as the home venue for a Lakers team dominated by Kobe Bryant and Shaquille O’Neal, who then led it to three consecutive championships. Last year it hosted a memorial for Mr. Bryant and his 13-year-old daughter who died along with seven other people in a helicopter crash.

Crypto.com Arena is not the only stadium named after a cryptocurrency brand. FTX a cryptocurrency exchange based in Hong Kong, signed a deal with the Miami Heat and the local authorities worth $135 million over 19 years to rebrand the arena where the NBA team plays.

Stadium names more recently have been dominated by companies in the banking, telecom and other booming sectors. Citi Field, named for the financial services firm Citigroup, replaced New York’s Shea Stadium in 2009, for instance. T-Mobile Arena opened in Las Vegas in 2016.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk