As the stringent crypto winter threatens to drive cryptocurrency companies into insolvency, CryptoCom is still betting on expansion despite recently laying off a chunk of its workforce. AEG Sports and Crypto.com have announced a nine-figure investment plan to renovate the Crypto.com Arena and Xbox Plaza facilities in Los Angeles. The renovation is expected to last for two years, with the arena fully operational throughout the renovation period.

AEG President and CEO – Dan Beckerman was appreciative of the role Crypto.com Arena has played since its opening, saying that’s why the two companies continue to invest hundreds of millions of dollars to ensure the arena is considered as a state-of-the-art stadium.

President of Crypto.com Arena, Microsoft Theatre and LA LIVE – Lee Zeidman said the renovations will create new ways for fans to experience their favorite sports and music events. He also noted that the project will create new business opportunities for the team.

The arena will have a multi-level Tunnel Club that will contain new hospitality spaces and an exclusive viewing experience for VIP guests. In addition, they will expand the Chairman’s Club to offer enhanced experiences and benefits to VIP guests in the arena. The exchange will also install two major LED screens and visible ribbon boards on the upper and lower bowl seats to provide fans with better visibility. The project will be overseen by the stadium’s original architects – Dan Meis and Ron Turner.

Crypto.com’s efforts to bridge the gap between sports and the cryptocurrency industry are long-standing. Its business moves have earned it a revered place in high-profile events in various sports such as Baseball, Formula 1, Soccer and Basketball. Even though the crypto winter is hitting heavily, the exchange has also secured regulatory approval to operate in UK, South Korea, Italy, Cyprus, Singapore and Dubai.

Featured Image Source: www.BitRss.com