OnlyFans, a London-based subscription service platform is reportedly negotiating a sale of Architect Capital’s 60% stake.
You can read more about it here:
- OnlyFans reportedly sells a 60 percent stake.
- Fenix International, OnlyFans’ parent company, invested about $19.9 million in Ethereum during 2021–2022.
- The company will have to wait until November 2022 before they can determine if the asset is still in their possession.
As per the Wall Street JournalThe company’s X-rated contents could be worth $3.5 billion or $5 billion when debt is included.
Architect Capital, a company that specializes in restructuring businesses with complex structures, aims at improving payment systems for creators who are not banked, and many of them face obstacles due to adult content.
Leo Radvinsky is the current majority owner of OnlyFans. He acquired it from its founders Tim Stokley and Guy Stokley, in 2018. Radvinsky has tried to transform OnlyFans into a platform that offers a similar experience as social media while also generating revenues.
Radvinsky’s financial filings reveal that he has earned nearly 1 billion dollars in dividends during the past two years.
Radvinsky began In the last few years, we have been exploring options to sell our platform.
OnlyFans is still highly profitable. Its annual net revenues are near $1.6billion, and Architect Capital sees a listing on the stock exchange by 2028. It is still speculative as negotiations are continuing and no agreement has been finalized.
Ethereum Investments
OnlyFans’ parent company, Fenix International, invested roughly $19.9 million in Ethereum during 2021–2022.
In November 2022 the falling crypto price had resulted in an $8.45m impairment. This reduced the reported value of the company’s holdings to $11.4m, but the company retained them with no restrictions.
Fenix explored Ethereum-based non-volatile tokens (NFTs) for its profile images, indicating a continued interest in cryptocurrency despite the volatility.
The company has not confirmed whether it sold its Ethereum or held on to them until the 2025 market crash, at which point the price began falling.
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Source: crypto.news
