George Godsal shares thoughts on the first anniversary of the launch of REKT Partners This time exactly a year ago, I was sitting alone in my office gripped by an equal sense of excitement and trepidation. It was Day 1 of REKT Partners. No clients, no colleagues, just a very clear vision of what I wanted to build, belief that …
Continue ReadingUltimately, the world’s best PR will never save you when there’s a ten billion dollar hole to fill, but reputation has undoubtedly played a huge part in both the rapid rise and dramatic fall of FTX. Commercial realities aside, FTX has always been overly reliant on Sam Bankman-Fried (SBF) as its communicator in chief. With his star ascending, it’s a …
Continue ReadingWhilst many of you will have been enjoying a searingly hot summer, crypto has been in the depths of winter. At the time of writing the two largest cryptocurrencies Bitcoin and Ethereum are both down over 50% YTD. However, volatility of crypto assets has not been the only story grabbing headlines. This year the crypto sector has seen seismic events …
Continue ReadingWarren Buffett needs little introduction. His multi-decade success as an investor has rightly earned him exalted status. But both Buffett and Berkshire Hathaway vice chairman Charlie Munger are no fans of crypto. Commenting recently at the Berkshire Hathaway annual shareholders meeting, Buffett claimed he would “not buy all the bitcoin in the world for $25”, and in 2018 said “bitcoin …
Continue ReadingAn interesting piece in The Block (behind a paywall though) looking at the relationship between sport and crypto companies, and the inherent risks in these deals — something that we’ve flagged previously. There will be further unravelling of hastily made and poorly structured sports partnership deals this year for sure. Done correctly — and that’s not just the deal itself, …
Continue ReadingSet against the bloodbath of cryptocurrency price plunges of the last week there have been a couple of notable reputational risks to emerge for two ‘darlings’ of the crypto world. First up was a hack last week impacting some Crypto.com users. Crypto.com has grown staggeringly quickly in the last year and has dramatically boosted its brand profile with a sustained …
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