OnlyFans, a subscription service for adult content, recently revealed that it had invested a portion of its working capital into Ethereum (ETH). As of November 30, 2022, the company had purchased $19,889 million worth of ETH, which recorded an impairment loss of $8,455 million, leaving a carrying amount of $11,434 million.The company’s revenues exceeded $1 billion for the first time in 2022, and its owner, US-based Ukrainian Leonid Radvinsky, has collected roughly $485 million in dividends since early last year. During this time, users collectively spent $5.5 billion on the platform, and sales for the year rose by 17% to $1.1 billion, while pre-tax profits soared by 21% to $525 million.However, OnlyFans has faced some controversy. An investigation by BBC News revealed instances of minors appearing and participating in content on the platform, raising safety issues. The company responded by advocating for its strict safety measures and emphasizing its primary objective of creating the most secure social media platform that empowers content creators.OnlyFans has also begun diversifying its offerings, welcoming videos appropriate for all audiences, including genres such as cooking, comedy, fitness, and music. A billboard ad showcasing OnlyFans model Eliza Rose Watson’s page was under scrutiny from the public, but the Advertising Standards Authority cleared it for display as it considered them non-offensive.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇺🇦 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | BBC News, Eliza Rose Watson, Advertising Standards Authority, Leonid Radvinsky |
| Companies | OnlyFans, Advertising Standards Authority, Ethereum (ETH), BBC News, Binanc |
| Currencies | ethereum, gbp, usd, bitcoin |
| Securities |
