ChainCatcher news, according to Bloomberg, informed sources revealed that venture capital giant Andreessen Horowitz (a16z) has closed its Miami office as of May 2024. The company had established a branch in Miami Beach in 2022, aiming to promote the city as a tech hub in the tropical region.a16z's move highlights the cooling of the Miami tech boom. Since the collapse of FTX in 2022, the local cryptocurrency industry has been severely impacted. a16z representatives confirmed that the company no longer has an office in Miami but declined to comment further. Informed sources indicated that the reason for the closure was insufficient usage by employees.

ChainCatcher message, the Washington State Department of Financial Institutions (DFI) Securities Division issued a warning about cryptocurrency investment scams after receiving a complaint from a resident regarding their investment in the Miami Foundation Equity Fund 005. The investor deposited funds on the now inaccessible Vims.one platform through a WhatsApp group led by "Mark" and "Alice," who promised over 100% returns on cryptocurrency deposits twice a week. Despite paying a 5% withdrawal commission, the investor has not received their funds. The scam used a name similar to the legitimate Miami Foundation, but the Miami Foundation was not involved. DFI has classified such cases as "advance fee fraud" and cryptocurrency investment scams utilizing social media.

ChainCatcher news, according to Bloomberg, after committing to become the title sponsor of the F1 Formula Racing Florida event------Crypto.com Miami Grand Prix, Crypto.com aims to sponsor more sports events.The digital asset trading platform sees sports as a catalyst to reach non-crypto enthusiasts. "We will double down on executing our strategy," Crypto.com Chief Marketing Officer Steven Kalifowitz told Bloomberg.Kalifowitz stated that since focusing marketing efforts on sports, Crypto.com's visibility has significantly increased, adding that Crypto.com now has over 100 million users.It is reported that the company recently postponed its planned retail expansion in South Korea and is undergoing a hiring campaign, expecting its total workforce to increase by 1,400, after cutting one-fifth of its staff earlier in 2023 to control costs following a market crash.

ChainCatcher news, according to CoinDesk, Miami Mayor Francis Suarez announced on Friday that he will accept Bitcoin campaign donations. Supporters can donate a minimum equivalent of 1 dollar in Bitcoin. Suarez stated that this initiative is aimed at "developing a technological process that brings democratic opportunities for wealth creation."Suarez announced his candidacy for the U.S. presidency in June this year, and he will compete for the Republican nomination against Trump and Ron DeSantis. Previously, it was reported that U.S. Democratic presidential candidate Robert F. Kennedy Jr. has announced he will accept Bitcoin donations.

ChainCatcher news, according to a press release, Miami International Holdings (MIH) has completed the acquisition of LedgerX, which is one of the FTX assets approved for sale by the court in January this year.LedgerX is an exchange and clearinghouse regulated by the Commodity Futures Trading Commission (CFTC) and is registered with the CFTC as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF). FTX.US acquired LedgerX in August 2021.During a congressional hearing discussing the collapse of FTX, CFTC Chairman Rostin Behnam stated that, compared to other FTX entities, LedgerX is "healthy," "solvent," and "operational." At a hearing held on May 4 in the U.S. Bankruptcy Court for the District of Delaware, Judge John Dorsey approved the motion filed by FTX debtors in April to sell LedgerX to MIH. FTX stated that the total proceeds from the transaction are approximately $50 million. (source link)

ChainCatcher news, known as the "world's largest" Bitcoin enthusiast gathering, the Miami Bitcoin Conference is being held. It is expected that about 15,000 people participated in this year's Bitcoin Conference, while last year saw as many as 35,000 attendees. This also indicates that the current industry is still in a "crypto winter."It is reported that the conference will start on Thursday and end on Saturday night. The speakers for the 2023 conference include U.S. presidential candidate Robert Kennedy and author Michael Lewis. (source link)

ChainCatcher news, a federal bankruptcy judge has terminated the naming rights agreement between FTX and Miami-Dade County, which involved the downtown arena for the NBA's Miami Heat games. Miami-Dade County will immediately stop using the FTX name and plans to remove all signage from the arena.Previously reported, last November, Miami-Dade County and the Miami Heat terminated FTX's $135 million 19-year exclusive naming rights. (source link)

ChainCatcher news, according to a correction from CoinDesk, the class action lawsuit against former FTX CEO SBF and a series of paid celebrity endorsers of FTX (NFL player Tom Brady, comedian Larry David, tennis player Naomi Osaka, and NBA's Golden State Warriors, etc.) has not been withdrawn. Currently, three related independent lawsuits have been consolidated and assigned a new judge in Miami, to be overseen by U.S. District Judge Michael Moore of the Southern District of Florida.It is reported that previously CoinDesk cited sources stating that the class action lawsuit against SBF and FTX celebrity endorsers had been voluntarily dismissed. (CoinDesk)

ChainCatcher news, according to The Block, Miami Mayor Francis Suarez stated that despite the ongoing market volatility, he continues to receive his salary in Bitcoin. Suarez first announced over a year ago that he would become the first U.S. politician to accept a formal salary in Bitcoin, and since Suarez made this announcement, Bitcoin has dropped by about 76%.Additionally, Francis Suarez mentioned that the mayor's salary is not his only source of income; he also works as a lawyer and at a private equity firm. The City of Miami has zero exposure to FTX, and its economy is sufficiently diversified to withstand any downturns that may occur in a single industry. (Source link)

According to ChainCatcher news, Reuters reported that American investors have officially launched a class action lawsuit against SBF in Miami, claiming that FTX's yield-bearing crypto accounts violate Florida law and constitute unregistered securities sold illegally in the United States.The lawsuit states that FTX's liquidity issues caused American investors to suffer losses of $11 billion. The lawsuit also seeks damages from SBF and several celebrities who allegedly helped promote FTX, including NFL quarterback Tom Brady and tennis star Naomi Osaka. (source link)

ChainCatcher news, Yuga Labs announced the launch of the NFT museum donation initiative "Punks Legacy Project," starting with the donation of CryptoPunk #305 to the Institute of Contemporary Art, Miami. The Punks Legacy Project will oversee the donation of multiple CryptoPunks to leading contemporary art museums around the world. (Source link)

ChainCatcher news, according to Coindesk, after a joint statement was issued by Miami-Dade County in Florida and the Miami Heat announcing the termination of their business relationship with FTX, FTX is required to pay a total of $16.5 million in outstanding debts within the next three years due to a breach of the previously signed $135 million naming rights agreement for 19 years. If payment is not made within 10 business days, the county stated it has the right to charge an annual interest rate of 12% until payment is completed, with $14 million due in the first year. (source link)

ChainCatcher news, according to CoinDesk, Miami-Dade County in Florida and the Miami Heat issued a joint statement hours after FTX filed for bankruptcy, announcing that they would immediately take action to terminate their business relationship with FTX and seek new naming rights partners for the arena. The FTX logo has been removed from the top of the arena.Previously, ChainCatcher reported in March last year that the two parties signed an exclusive naming rights deal worth $135 million for 19 years. The Miami Heat's main stadium was also named FTX Arena. (source link)

ChainCatcher news, according to sources cited by The Block, FTX US is encouraging employees to move to the Miami headquarters by mid-November. Although other FTX offices in the U.S. have not been completely shut down, they are being scaled back. A knowledgeable source added that this move is to have employees in one place and ensure they can communicate well; currently, most of the available positions on FTX's recruitment page are located in Miami.Previously in September, FTX CEO Sam Bankman-Fried (SBF) announced the relocation of its U.S. headquarters from Chicago to Miami. (The Block)

ChainCatcher news, Yuga Labs will launch a $1 million donation program to support education and arts initiatives in Miami, with $300,000 being donated to the Miami Scholarship Fund to help local students in the fields of science, technology, and STEM.In addition, Yuga Labs co-founders Wylie Aronow and Greg Solano will lead the project to expand the reach of arts and STEM education. (Source link)

Chain Catcher news, FTX CEO Sam Bankman-Fried (SBF) announced that the U.S. headquarters will be moved from Chicago to Miami. SBF stated in an interview with Bloomberg that establishing offices around the world is key for the company to obtain various business licenses. FTX moved its global headquarters from Hong Kong to the Bahamas in September.It is reported that Miami Mayor Francis Suarez has made attracting crypto companies and talent a key government priority, emphasizing relatively relaxed regulations and lower tax burdens. Several companies, including Blockchain.com, have moved their headquarters to Miami, and other companies, including the exchange eToro, have established offices in the city to expand their business in the U.S. (source link)