Miami nightclub owners are struggling with slumping sales after losing top-spending crypto clientele in wake of FTX implosion and crypto downfall, report says
Requests for $50,000 tables and bottle service for top-shelf liquor at the city's hottest venues are drying up, according to a new report from the Financial Times. The scene has become so bleak that Andrea Vimercati, director of food and beverage at Moxy Hotel group, told the outlet that high-rolling crypto regulars have "completely disappeared."
Miami became a hotbed for crypto enthusiasts, tech execs, and hedge fund managers early in the pandemic, prompting a mass exodus to the Florida city. Many said it had potential to rival Silicon Valley, but as the crypto industry takes a blow, the future of Miami as a major tech and finance hub remains uncertain.
Vimercati told the FT that until recently, many clubs had grown used to serving a new demographic of "95 percent men, young ... with a kind of nerdy style," in reference to the swelling crypto scene.
