OnlyFans Saw Its Ethereum Holdings Sink More Than 50% In 2022 — $8.5M Wiped Out
Portfolio Pulse from Mehab Qureshi
Fenix International, the parent company of OnlyFans, saw its Ethereum (ETH) holdings decrease by over 50% in 2022, losing $8.5 million. The company had invested nearly $20 million in ETH between 2021 and 2022. Despite the crypto market's challenges in 2022, OnlyFans had a successful year, with revenues reaching $5.6 billion, surpassing the $4.8 billion generated in 2021.
August 28, 2023 | 3:19 am
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NEUTRAL IMPACT
Ethereum's price fluctuations in 2022 led to Fenix International losing over 50% of its ETH holdings. However, the current price of ETH is $1,650, up 0.17% in the last 24 hours.
The news directly pertains to Ethereum as Fenix International's losses were due to the decline in ETH's price. However, the current price of ETH is up, indicating a potential recovery. The impact on ETH's price in the short term is neutral as the market has already absorbed this information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100