Los Angeles' Staples Center is becoming the Crypto.com Arena
CNN
In a sign of the times, Los Angeles' Staples Center is switching its name to Crypto.com Arena.
The 20-year naming rights agreement, announced Tuesday by arena owner AEG, marks an end of an era. The Staples Center has held that name since the 20,000-seat facility opened in 1999 and is the home of several professional sport teams, including the NBA's Los Angeles Lakers and Clippers and the NHL's LA Kings.
As cryptocurrencies explode in value, dozens of companies have popped up out virtually out of thin air to help investors buy and sell digital currencies. Crypto.com is among the largest. The cyptocurrency platform and exchange was founded in 2016, and the Singapore-based company has inked other sporting deals in recent years, including becoming the official crypto sponsor of the Ultimate Fighting Championship and Formula 1 racing.
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