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Miami nightclub owners mourn loss of ‘crypto nerds’ after FTX collapse

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Miami nightclub owners mourn loss of ‘crypto nerds’ after FTX collapse


Nerdy crypto entrepreneurs who spent large at Miami nightclubs, showering patrons with money as they ordered “bathtubs of champagne” and sang with rappers like 50 Cent, have gone quiet, South Florida venue homeowners mentioned.

The sudden collapse of the cryptocurrency change FTX and the plummeting worth of digital cash has Miami nightclub homeowners pining for the times when younger entrepreneurs flocked to venues corresponding to E11even and its neon lights, trapeze dancers and burlesque reveals.

“They had been ordering 12 or 24 bottles of the costliest champagne and simply showering themselves with out even ingesting,” Andrea Vimercati, the director of meals and beverage at Moxy Lodge group, informed the Monetary Occasions. “[The crypto entrepreneurs] wished to indicate that they didn’t have any limits.”

Vimercati recalled that the crypto increase of a 12 months in the past prompted a wave of predominantly younger males awash in cash to flaunt their newfound wealth in Miami.

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Nightclub homeowners in Miami mentioned that crypto executives would spend seven-figure sums to hire out their venues.
Getty Photographs

“Out of the blue, all these children from crypto began coming down and spending some huge cash — like, an insane sum of money,” he mentioned.

“They had been reserving tables for $50,000, and it was like, ‘Who the hell are these individuals’?”

Vimercati described the gang as “95% males, younger…with a sort of nerdy model.”

“You couldn’t inform they’d some huge cash in the event that they had been simply strolling round,” he mentioned.

Gino LoPinto, working companion on the Miami hotspot E11even, informed FT {that a} group of crypto businessmen got here into the membership in June of final 12 months to rejoice what they claimed was the profitable sale of their firm.

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“50 Cent was performing, and their spend was greater than 1,000,000 {dollars},” LoPinto informed FT. “They paid in crypto.”

LoPinto added: “That they had bathtubs of champagne introduced out, and gave 50 Cent a bunch of money to throw.”

Crypto entrepreneurs would order tens of thousands of dollars worth of champagne on any given night, according to club owners.
Crypto entrepreneurs would order tens of hundreds of {dollars} price of champagne on any given evening, in response to membership homeowners.
Getty Photographs
Miami nightclub owners say that crypto entrepreneurs are no longer spending lavishly at their venues since the collapse of FTX.
Miami nightclub homeowners say that crypto entrepreneurs are now not spending lavishly at their venues for the reason that collapse of FTX.
REUTERS

In April of final 12 months, E11even began accepting cryptocurrency funds. LoPinto mentioned that the membership processed $6 million price of transactions between April and December of final 12 months.

Within the final three months, nonetheless, the membership has taken in simply $10,000.

LoPinto mentioned that crypto entrepreneurs would brag about their wealth by exhibiting one another their digital wallets.

Club owners recalled crypto entrepreneurs bragging about their wealth by displaying their digital wallets.
Membership homeowners recalled crypto entrepreneurs bragging about their wealth by displaying their digital wallets.
Getty Photographs/iStockphoto

“You wouldn’t usually present your checking account, however individuals do present their crypto wallets,” he mentioned.

“I’ve seen extra crypto wallets in a 12 months than I’ve seen financial institution accounts in a lifetime.”

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Within the 12 months since, the crypto partiers aren’t calling. As a substitute, they’re licking their wounds alongside a complete business that has been rocked by the implosion of FTX, the change based by the disgraced Sam Bankman-Fried.

FTX filed for Chapter 11 chapter safety earlier this month after it was realized that Bankman-Fried was utilizing buyer funds to put dangerous bets via sister agency Alameda Analysis.

The collapse of FTX, the crypto exchange founded by the disgraced Sam Bankman-Fried, has rocked the industry.
The collapse of FTX, the crypto change based by the disgraced Sam Bankman-Fried, has rocked the business.
by way of REUTERS

The collapse of FTX was stunning on condition that the corporate, whose roster of movie star endorsers included Tom Brady, Gisele Bündchen, Larry David, Steph Curry, and others, was at one level price some $32 billion.

BlockFi, one other crypto agency that was in talks to be acquired by FTX, filed for Chapter 11 in federal chapter court docket in New Jersey on Monday.

The information despatched the worth of the overwhelming majority of cryptocurrencies down. As of 11:19 a.m. Jap time, bitcoin was down practically 3% whereas ethereum was down greater than 4.8%.

The worldwide market capitalization of all cryptocurrencies in circulation was valued at $814.55 billion on Monday — which is down 3.5% in comparison with the day before today, in response to CoinMarketCap.com.

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Miami, FL

Where did you rank the Miami Dolphins wide receivers?

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Where did you rank the Miami Dolphins wide receivers?


Last week, I discussed CBS Sports having the Miami Dolphins wide receivers unit rank sixth and how that might be too low. I also put up a poll asking the following question-

Where would you rank the Miami Dolphins’ receivers in the NFL?

The results were-

  • First, received 32 votes or 71 percent.
  • Second, received 9 votes or 20 percent.
  • Third, received 2 votes or 4 percent.
  • Fourth, received 2 votes or 4 percent.
  • Fifth, received 0 votes.
  • I’m drunk with hate for the Miami Dolphins, so I rank them sixth or lower also received 0 votes.

I also asked the following question:

Where would you rank the Dolphins’ wide receiver unit overall in the NFL?

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Below are some of your thoughts and answers-

Spok507 says on paper; they are number 1!

Since everything is basically ‘on paper’ right now, it’s hard to not put them first. What other team has 3 top WRs like Hill-Waddle-OBJ? Add in the rookie Washington and I’d put our WRs at the top. Nobody knows what the season would bring, but right now, on paper, they have to be #1.

21Dave says they are in second until they can show out as a unit in a big game.

I put second , they have the talent to be number 1, but in big games they don’t seem to show up fully and they struggle to get off press coverage, hence so many motion plays. Two things they can fix with a little determination and effort!!

ChumpPunk says Hill and Waddle may be overrated.

In big games, the Hill//Waddle duo disappeared. Was it all Tua’s fault, or mainly receivers? Perhaps both are overrated.

dolphinfan1323 says 5th and potentially first if all the new additions at WR work out.

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I feel Miamis receiving core has been highly over rated we had to receiving threats hill and waddle the last two years then who? This year it really depends on obj and the two rookies but I definitely feel better about it now especially when adding in the TEs but from just the wrs I would say 5th and potentially 1st

72Phins4ever is correct!

Best rec core since Duper, Clayton and Moore

The comments were an array of opinions but the poll clearly has the majority believing that the Dolphins wideouts are the very best in the NFL. Thank you again to everyone who took the time to answer our Phinsider question of the day.



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Miami, FL

Multiple Dolphins Named to Top Players List

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Multiple Dolphins Named to Top Players List


The Miami Dolphins finished last season with an 11-6 record and a playoff berth, while owning the league’s top-ranked offense in 2023. That kind of success can’t be achieved without laying claim to some of the best players the NFL has to offer.

In his annual recent list of the Top 100 players in the league, CBS Sports’ Pete Prisco ranked players based on his evaluations “as well as some conversations with some league personnel.”

Five players still in South Florida made the list, as well as three former Dolphins players. So, where do they all fall?

In what should not come as a surprise to anyone who has watched football in the last few seasons, wide receiver Tyreek Hill was the highest-ranked player at his position, slotting in at No. 4 on the list. The only players ahead of him were Patrick Mahomes, Myles Garrett and Trent Williams.

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Hill was nothing short of dominant in 2023, finishing with 1,799 receiving yards and 13 touchdowns on 119 receptions. He averaged 15.1 yards per reception. Hill was named an Associated Press first-team All-Pro for the fifth time in his career, and he finished sixth in NFL MVP voting.

Without Hill, the Dolphins likely do not have the No. 1 offense in the league last season. The 30-year-old is still a cut above the rest in a league full of young stars at the position, like Minnesota’s Justin Jefferson, Cincinnati’s Jamarr Chase, and Detroit’s Amon-Ra St. Brown, to name a few.

Hill’s mere presence forces opposing defenses to play two safeties high, opening up the field for the rest of his offense.

Wide receiver Jaylen Waddle is the next Dolphins player on the list, at No. 42. Waddle climbed 20 spots from his ranking in last year’s list.

“Waddle caught 72 passes for a 14.1 average and four touchdowns last season, all numbers that were down form some previous years,” Prisco wrote. “But coach Mike McDaniel said he was better last season. He did battle through some injuries that kept him out of three games.”

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Waddle had 1,014 yards last season in 14 games, averaging 72.4 yards per game. That’s still higher than his rookie season in 2021, and just 7.4 yards short of his average in 2022. Waddle only had three fewer receptions than he did 2022, despite playing three less games.

Below Waddle at No. 43 is his teammate, cornerback Jalen Ramsey. Ramsey missed seven games to start the season because of a knee injury, and Prisco writes that “he wasn’t happy with the way he was used in Vic Fangio’s scheme.” That is not an unfounded take.

Per Pro Football Focus, Ramsey still allowed just a 53 passer rating to opposing quarterbacks. His reception percentage allowed was his lowest in three seasons, at 55.6.

The next Dolphins player on the list after Ramsey comes in 20 spots later. Safety Jevon Holland was ranked No. 63, ahead of former Dolphins safety Minkah Fitzpatrick and New Orleans’ Tyrann Mathieu.

Again, Fangio’s departure helps Holland’s case the eyes of Prisco.

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“He battled through some injuries last season and never looked comfortable in the Vic Fangio scheme,” Prisco wrote. “But this is a talented player who will play a feature role under new defensive coordinator Anthony Weaver.”

Last season, Holland started in all 12 games he played, registering 74 tackles and an interception he took 99 yards for a score. Holland also had a forced fumble and four pass break-ups.

Two spots below Holland was quarterback Tua Tagovailoa. Tagovailoa led the league with 4,624 passing yards and 29 passing touchdowns. He owned a 101.1 passer rating, finishing fifth in the league.

The question with Tagovailoa is his big-game ability, and he could not escape that criticism from Prisco.

“He has to be better in the big games going forward to ease some of the questions about him,” Prisco wrote.

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Tagovailoa was the 1th QB on the list behind Patrick Mahomes, Josh Allen, Joe Burrow, Lamar Jackson, Aaron Rodgers, C.J. Stroud, Justin Herbert, Dak Prescott, Jalen Hurts and Trevor Lawrence, and ahead of Jared Goff, Brock Purdy, Jordan Love and Kirk Cousins.

Notably, there were three players on the list with Dolphins lineage. The highest-ranked was offensive tackle Laremy Tunsil at No. 57. Tunsil was the Dolphins’ 13th overall pick in 2016. He started in 44 games across three seasons in South Florida before being dealt to Houston before the start of the 2019 season. Since the trade, Tunsil has been named to four Pro Bowls.

Former Dolphins safety Minkah Fitzpatrick fell 30 spots from the previous year to No. 71.

Fitzpatrick was the Dolphins’ 11th overall pick in 2018. Fitzpatrick was with the team for just one full season before he was dealt to Pittsburgh early on in Year 2. There, he was named to the first of four consecutive first-team selections as an All-Pro. Fitzpatrick was named to a fifth All-Pro team in 2022.

The trade gave the Dolphins the 18th overall pick in 2020, which was used to select offensive lineman Austin Jackson. Jackson’s first three seasons had plenty of struggles, but last season he was solid, earning a 68.4 player grade from Pro Football Focus.

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The most recent big-name Dolphins departure, defensive tackle Christian Wilkins, was No. 78 on the list. Wilkins was the 13th overall pick in 2019, and had nine sacks in his last season with the Dolphins. This offseason, Wilkins signed a four-year deal with the Las Vegas Raiders that was worth $110 million, with just over $84 million guaranteed.



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Did Dolphins upgrade their roster this offseason – The Splash Zone 6/22/24

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Did Dolphins upgrade their roster this offseason – The Splash Zone 6/22/24


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The Miami Dolphins, like the rest of the NFL, had a pretty busy offseason. The Dolphins saw a handful of their most talented players walk out the door for more money elsewhere and the team did their best to replace the talent that left. It was going to be tough to find players that could replace Christian Wilkins or Robert Hunt and it was even more difficult with the Dolphins salary cap situation. It’s tough to watch talent walk out the door, especially when they were guys you drafted. But some new guys entering the building this year should become key contributors for a team with Super Bowl asperations.

You can check out that story here, and the rest of the day’s round-up below.

Kelly: The old versus the new Dolphins. Did Miami upgrade or downgrade from last year’s roster – Yahoo Sports
The Old versus the New Dolphins: A player-by-player breakdown of who left and who is their replacement in 2024.


Dolphins Defensive Line

Calais Campbell sees opportunity with Miami Dolphins – ESPN
The 16-year veteran has a chance to contribute right away for a team with Super Bowl aspirations.


Dolphins Linebackers

Here’s why Jordyn Brooks is No. 15 on our Dolphins’ Top 20 players – Yahoo Sports
Who are the best players on the Miami Dolphins in 2024? Our Hal Habib and Joe Schad voted on the Top 20 players. We’ll count down to No. 1 between now and training camp.

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Phinsider News You May Have Missed

Dolphins announce 2024 public practice schedule – Miami Dolphins News 6/21/24 – The Phinsider
Welcome to the Splash Zone, the quickest way to get your day started off right. We bring you a rundown of Miami Dolphins news from the last 24 hours.

Kurt Warner talks Dolphins QB Tua Tagovailoa and what makes him special – The Phinsider
This elite-level trait may be overlooked, but it is just as effective.

Dolphins, Calais Campbell free agent contract details: ‘We’ll be a force to be reckoned with’ – The Phinsider
The Miami Dolphins signed free agent defensive lineman Calais Campbell to a one-year contract this week. The six-time Pro Bowl selection explained why he is headed to South Florida.



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