Crypto.com’s CRO Token Soars on Naming Deal for LA’s Staples Center

Crypto.com’s CRO Token Soars on Naming Deal for LA’s Staples Center
Crypto.com’s CRO token soared in digital-asset markets after the cryptocurrency exchange and credit-card issuer inked a naming-rights deal with the Staples Center, home of the Los Angeles Lakers basketball team.The Singapore-based crypto exchange bought the naming rights from AEG for 20 years for $700 million, the LA Times reported, citing sources familiar with the matter.The CRO price rose 35% in the past 24 hours to 54.5 cents in digital-asset markets, pushing the reported market capitalization to $13.7 billion.Among the largest cryptocurrencies, the CRO token’s staggering one-day return was almost triple the gains of the next-best performer, Avalanche’s AVAX token, which…