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OnlyFans Parent Company Invests in Ethereum

Fenix International, the parent company of content subscription platform OnlyFans, has invested a portion of its working capital into Ethereum (ETH), the second-largest cryptocurrency by market cap. This decision coincides with the company's financial results, as its revenues surpasses $1 billion for the very first time. OnlyFans, recognized for adult content, has transformed into a lucrative platform for creators to monetize their content through subscriptions. User spending reached $5.5 billion in 2022, translating to $1.1 billion in reported sales and pre-tax profits of $525 million, as per the filing.

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