OnlyFans, the adult content giant, has made a daring shift into Ethereum, investing $19.889 million into the digital currency. Despite an impairment loss of $8.455 million, the platform still holds a carrying amount of $11.434 million. This move reflects a broader trend of global businesses investing in Ethereum, which currently trades at $1,643.71 and has a 24-hour trading volume of $2,693,591,545.In 2022, OnlyFans experienced record revenues of $1.1 billion and pre-tax profits of $525 million. The platform also drew in 50 million new users and 1 million content creators, who cumulatively spent $5.5 billion. However, investigations by BBC News uncovered potential vulnerabilities involving underage users.OnlyFans has also enabled its creators to showcase verified Ethereum NFTs as profile images, mirroring innovations by tech giants like Meta for Instagram and Facebook. CEO Amrapali Gan hinted at an even deeper plunge into the NFT space. Despite the volatile nature of the crypto market, the platform’s coffers swelled to $5.6 billion in 2022, with a 47% spike in creator engagement and a 27% uptick in subscribers.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	9
People	Evening Standard, Amrapali Gan, Wu Blockchain, BBC News, FINRA.
Companies	OnlyFans, Ethereum, FAC, Evening Standard, FINRA, Wu Blockchain, BBC News, Meta
Currencies	ethereum, nfts, bitcoin
Securities