In a strategic move that underscores the growing integration of crypto into mainstream business operations, Fenix International Limited, the parent company of the adult content subscription platform OnlyFans, has made a significant investment in Ethereum (ETH). The company’s financial statement for 2022, recently submitted to British authorities, reveals a purchase of Ether worth $19.889 million in 2022.

The acquisition of Ether by Fenix International Limited comes at a time when the broader crypto market experienced a series of highs and lows. As of November 30, 2022, the purchased ETH had an impairment loss of $8.455 million, bringing the carrying amount to $11.434 million. This impairment reflects the volatile nature of the crypto market, with Ethereum’s price dropping from $2,797.43 …