I live in Miami and speaking anecdotally, the article is right about the facts and wrong about the conclusion.
It’s true that crypto money has dried up, the FTX arena has been re-renamed, that the crypto tide in Miami rose and fell in about a year’s worth of time.
I think the conclusion I would draw instead is that the rush of money and transplants into Miami hasn’t abated — it simply has a new face. Goodbye crypto degens, hello stockbrokers, hedgies, traders, quants, etc.
New skyscrapers are still going up, rent has yet to come down, and G wagons are still commonplace — just more Citadel / Millennium and less FTX.
I live in Miami and speaking anecdotally, the article is right about the facts and wrong about the conclusion.
It’s true that crypto money has dried up, the FTX arena has been re-renamed, that the crypto tide in Miami rose and fell in about a year’s worth of time.
I think the conclusion I would draw instead is that the rush of money and transplants into Miami hasn’t abated — it simply has a new face. Goodbye crypto degens, hello stockbrokers, hedgies, traders, quants, etc.
New skyscrapers are still going up, rent has yet to come down, and G wagons are still commonplace — just more Citadel / Millennium and less FTX.