OnlyFans’ parent company, Fenix International, recently filed an accounting statement for 2022, which reveals that the company invested part of its working capital into ETH.
Although the firm didn’t reveal how much Ether it held, it did imply that it had incurred a loss at the end of the reporting period (November 2022).
OnlyFans Sees 21% Increase in Profits Despite Making a Loss on ETH
Fenix International is the owner of the digital subscription service OnlyFans, a platform typically associated with adult video content.
In a recent financial statement filed with Companies House in the UK, the firm reported that:
“During the year, the Group diversified part of its working capital into cryptocurrency (“Ethereum” or “ETH”). There are no limitations or restrictions on the Group’s ability to sell the cryptocurrency assets. “
The statement doesn’t give a breakdown of Fenix’s holdings or reveal the exact value of its crypto investment. However, it does state that “the asset has been impaired to its fair value as at the year-end.”
This suggests that the OnlyFans ETH was worth less at the end of November than when it was purchased. This is hardly surprising, however. In the 365-day period covered by the recent filing, ETH lost over 70% of its value, falling from $4,448 to $1,217.
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Author: James Morales
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