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

📆 8/27/2023 11:12 PM
📰 Cointelegraph

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OnlyFans parent company Fenix international purchased almost $20 million worth of Ethereum between 2021 and 2022. However, due to the crypto bear market that investment fell by more than 42% to $11.4 million by November last year.

over the course of last year, the total value of its Ether decreased by $8.5 million by the end of November 2022.

As of Nov. 30, 2022 — when ETH was worth $1,295 apiece — which placed the carrying amount of the company’s ETH holdings at $11.4 million.Despite its lack of initial success in crypto investing — overall, the platform experienced solid growth in the reporting period ending November 30, 2022. According to the filing, the company's revenue increased 16.6% from $4.8 billion in 2021 to $5.6 billion in 2022. Additionally, the primarily adult entertainment platform also witnessed a 47% increase in the number of creators and a 27% increase in total subscribers.

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