Miami Nightclubs Horrified That Big-Spending Crypto Bros Are Broke Now

“They wanted to show that they don’t have any limits.”

Fallen High-Rollers

Like many other people out there, Miami nightclub owners lost out on the crypto crash – although not because they invested their money in cryptocurrencies. Instead, they miss the business of crypto-millionaires, who according to club owners want to loudly flaunt their newfound wealth in the world’s most famous metropolis.

“Out of the blue, all these crypto kids started going down and spending a lot of money,” Andrea Vimercati, director of food and beverage at the Moxy Hotel group and former director of Groot Hospitality, told Times of Money. Groot Hospitality operates Liv, Bali, and Swan, the three main areas of Miami. “Like, crazy money.”

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But as FT Reports, “small,” “small,” and eager to spend money crypto bros who have not long been hitting the clubs in large numbers – so much so that clubs like E11de began to accept payment in crypto – are visibly missing. even the hottest places they’ve ever played. And considering that the current state of the cryptosphere, it is not clear that they will come back.

Jordan Belfort Lite

According to the club operators, the wealth displayed by the crypto rich was really excessive. According to FT, insults included baths full of champagne and giving rapper Curtis “50 Cent” Jackson III “a bunch of money” to throw at club-goers during performances. The scam has long involved people walking around the club literally showing people how much money they hold in their crypto wallets.

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“They wanted to show that they have no limits,” Vimercati said FT. “They would order 12 or 24 bottles of the most expensive champagne and wash themselves without even drinking.

Well, if there was anywhere where these young entrepreneurs tried to live with their nerdy Jordan Belfort, Miami – with its nightlife, crypto-optimism and, at the time, low restrictions of COVID – was the place. Just then FT reveals, the annual Bitcoin Conference even moved to Miami from Los Angeles, and the mayor of the Florida city even pushed the widespread integration of crypto throughout the city.

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So far, none of these surprises. The cryptosphere is a market that, especially at its peak, has always been driven by hype, promotion, and a “get rich quick” mentality, and few things can encompass all of those things more fully than publicly showering yourself with luxury champagne. and stop drinking it.

READ MORE: Miami nightclubs mourn the absence of top crypto entrepreneurs [Financial Times]

More about crypto accounting: FTX Exec Vomited in Fear When He Learned the Truth

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