OnlyFans’ parent company bought $20Million of Ethereum as revenue surged #crypto #bitcoin #OnlyFans - Video

OnlyFans Parent Company Invested in ETH, Recent Filing Shows  

The company that runs OnlyFans, Fenix International, invested in Ether last year, a recent filing reveals.
Although it didn't disclose the value of its investment, the firm said it made a loss during the reporting period.
Companies typically hold crypto assets because they can generate better returns than cash, but losses are also common

OnlyFans’ parent company, Fenix International, recently filed an accounting statement for 2022, which reveals that the company invested part of its working capital into ETH.

Although the firm didn’t reveal how much Ether it held, it did imply that it had incurred a loss at the end of the reporting period (November 2022).

OnlyFans Sees 21% Increase in Profits Despite Making a Loss on ETH
Fenix International is the owner of the digital subscription service OnlyFans, a platform typically associated with adult video content.

In a recent financial statement filed with Companies House in the UK, the firm reported that:

“During the year, the Group diversified part of its working capital into cryptocurrency (“Ethereum” or “ETH”). There are no limitations or restrictions on the Group’s ability to sell the cryptocurrency assets. “

The statement doesn’t give a breakdown of Fenix’s holdings or reveal the exact value of its crypto investment. However, it does state that “the asset has been impaired to its fair value as at the year-end.”

This suggests that the OnlyFans ETH was worth less at the end of November than when it was purchased. This is hardly surprising, however. In the 365-day period covered by the recent filing, ETH lost over 70% of its value, falling from $4,448 to $1,217.

Yet for the OnlyFans owner, losing money on Ethereum appears to have done little to dent its revenue

Overall, sales for the year rose 17% to $1.1 billion. Meanwhile, the company registered pre-tax profits of $525 million, a 21% increase from the previous year.

But why is a company whose primary business is adult content streaming investing in crypto in the first place?


OnlyFans' parent company bought $20M of Ethereum as revenue surged

56 mins ago

F Finbold

OnlyFans bought $20 million worth of Ethereum, records show

10 hours ago

Decrypt

OnlyFans' Ethereum Holdings Sank- But 2022 Was Still A Good Year

5 hours ago

BSC News

OnlyFans Purchased $20 Million of ETH

OnlyFans

12 hours ago

CoinGape

OnlyFans Invests in Ethereum as Revenue Tops $1 Billion

1 day ago

On

BelnCrypto

Here's How Much Money OnlyFans

Lost on Its ETH Investment


Why is Onlyfans buying ETH?

18 hours ago

Cryptopolitan

OnlyFans see record profits as owner rakes in $485 million amid Ethereum investment - Cryptopolitan

18 hours ago

Business Blockchain HQ

Adult Content Platform Onlyfans' 9,000 Ethereum Drops 25% in Value



Bitcoin Weekly Divergence #crypto #bitcoin #mft #btc #stockmarket #linearfinance #cryptocurrency

#CryptoProspect
#BlockchainEcosystem
#CryptoAware
#CryptoExplained
#BlockchainPotential
#CryptoDApps
#CryptoAdvisory
#BlockchainProgress
#CryptoGrowth
#CryptoPossibilities
#BlockchainIntegration
#CryptoImpact
#CryptoProsperity
#BlockchainTransformation
#CryptoRise
#CryptoInclusion
#BlockchainProspects
#CryptoDevelopment
#CryptoFrontiers
#BlockchainMatters
#CryptoInnovators
#BlockchainChange
#CryptoAdvice
#BlockchainExploration
#CryptoSpace
#CryptoExperts
#CryptoPotential
#BlockchainUseCases
#CryptoAnalysis
#CryptoProgress
#BlockchainForAll
#CryptoStrategies
#CryptoPartnership
#CryptoLearning
#BlockchainFuture
#CryptoTrends
#CryptoInvestments
#BlockchainInnovations
#CryptoDiversity
#CryptoUpdates
#BlockchainAdoption
#CryptoJourney
#AltcoinInvesting
#CryptoUpdates
#BlockchainSecurity
#TokenSale
#CryptoValue
#CryptoAnalytics
#CryptoFutures
#BlockchainAdoption
#CryptocurrencyTrading
#BlockchainCommunity
#CryptoGaming
#CryptoKnowledge
#DigitalEconomy
#CryptoLeaders
#CryptoEducation
#BlockchainSolutions
#CryptoAwareness
#CryptoGoals
#CryptoPortfolio
#CryptoAssets
#CryptoTrader
#CryptoExchange
#CryptoTechnology
#CryptoInvestor
#NFTs
#CryptoEconomy
#BlockchainTech
#CryptoSpace
#CryptoMining
#DigitalAssets
#CryptoWallet
#CryptoEducation
#BlockchainRevolution
#CryptoInnovation
#CryptoTrading
#CryptoAdoption
#CryptoPayments
#CryptoNews
#DecentralizedFinance
#CryptoWorld
#Crypto
#Blockchain
#DigitalCurrency
#Investment
#CryptocurrencyNews
#HODL
#Altcoins
#TechInnovation
#DeFi
#CryptoCommunity
#Trading
#CryptoMarket
#FutureOfMoney
#Tokenomics
#CryptoAssets
#Decentralization
#FinancialFreedom
#CryptoLife
#CryptoTrader
#CryptoExchange
#CryptoTechnology