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FTX is intent on doubling its presence in Miami

The crypto exchange already holds the rights to the name of the arena in which the Miami Heat play

The strong growth it is currently experiencing in Miami and surrounding areas is pushing FTX to consider decisively strengthening its workforce. The company's decision to build permanent offices reserved for 16-18 employees in the city's financial district is an eloquent testimony to this. Resolution which was the subject of a recent interview that FTX US Vice President of Business Development, Avinash Dabir, granted to Bloomberg.
A decision which, moreover, seems destined to be followed by new hires, aimed at consolidating the beachhead already established with great strength in Florida.

ftx - FTX intends to double its presence in Miami

The Avinash Dabir interview

During the same interview, Dabir also claimed to have recognized the presence of one significant opportunity for the cryptocurrency in the real estate sector, albeit still in its early stages. Such as to push us to think of a future in which the title deeds could be NFT or where escrow accounts could be managed through the use of smart contracts.
A trend which has prompted Dabir to say that he cannot think of a more receptive place in Miami to undertake collaborations between the two sectors. From his words, however, the feeling that FTX is completely satisfied with how things are progressing in a city that its mayor, Francis Suarez, is intent on turning into a world-class cryptographic hub.

FTX and Miami, a relationship that is consolidating

The increasingly close relationship between his company and Miami is the background to the words released by Dabir. Right at the beginning of the current year, in fact, theexchange had decided to buy the right to name the arena in which the Miami Heat usually perform in their home games, one of the best known franchises of the National Basketball Association. An agreement which will remain in force for 19 years, thus testifying FTX's desire to stay in Florida for a long time.
Indeed, sports marketing is one of the priority areas in the platform's expansion strategy. Aimed at closing the gap in terms of notoriety compared to other big names in the sector. The topic was addressed by Sam Bankman Fried, the founder of the exchange, during the event Cryptocurrency Goes Mainstream, earlier this week. During which he claimed to have discovered with some dismay that those who intend to land in the sector, usually have not heard of FTX previously. A vulnerability which the sports marketing strategy obviously seeks to remedy.

Miami vs New York: the clash could soon flare up

If Miami sets out to become a hub for virtual assets, even New York now seems ready to launch its candidacy in this sense. Especially after the recent election of the new mayor, the Democrat Eric adams. The new mayor of the Big Apple, in fact, is a well-known supporter of Bitcoin. So much so that he made cryptocurrencies one of the major topics of his program during the election campaign. A faith, that in digital money, that led him to opt for receiving his first three salaries in Bitcoin.
Its goal is to attract the major companies of the crypto scene to New York. Precisely this regard, however, could soon clash with Miami's ambitions. A clash which, ultimately, would be to the great advantage of a sector in search of definitive legitimacy.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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