Crypto crashes, but rewards continue

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They may not be dead, he said. But their dreams of making it crypto rich definitely are.

Screens on his back showed footballer Odell Beckham Jr., who announced in November 2021 that he would take his salary in Bitcoin, shortly before its value began to plummet. Then came boxer Floyd Mayweather Jr. and rapper and music producer DJ Khaled, who in 2018 were fined by the Securities and Exchange Commission for promoting digital tokens without disclosing that they had been paid to do it.

Next, an image was shown of Kim Kardashian, who in October agreed to a $1.26 million settlement with the SEC for failing to follow the agency’s rules on promoting investment opportunities.

The images kept coming. One showed the August-September 2022 issue of Fortune magazine, with Mr. Bankman-Fried on the cover, with the headline The Next Warren Buffett? The Fat Jewish predicted that Mr Bankman-Frieds’ trading habit would soon involve trading cigarettes for toilet paper in prison.

YouTube star turned media entrepreneur Gary Vaynerchuk was also featured on the screens. His NFT startup, Candy Digital, was once valued at $1.5 billion. Earlier this week, the company laid off much of its staff, according to Decrypt, the crypto industry news site owned by Decrypt Media, the parent company of Crypties organizer Decrypt Studios.

It turned out that the person presenting the first Cryptie award was Avery Akkineni, the president of another of Mr. Vaynerchuks’ companies, Vayner3. In what was certainly not the warmest exchange of the evening, Ms Akkineni took to the stage, gave The Fat Jewish a terse acknowledgment and defended her boss, Mr Vaynerchuk, calling him a pleasure to work with. .

After reading the list of nominees for Game of the Year, Ms. Akkineni opened an envelope and revealed the winner: Crypto Unicorns, a pet and farming game created on the Polygon blockchain, backed by a digital token called MATIC. Katrina Wolfe, product manager at Laguna Games, accepted the award, but a number of other winners did not show up.

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