Crypto City Miami: Cultural Shift Intertwined With Cutting-Edge Technology

Miami, renowned for its sun-kissed beaches, vibrant nightlife, and diverse culture, has profoundly transformed in recent years. Beyond its iconic coastal beauty, Miami has quietly blossomed into a thriving epicenter for cryptocurrency and blockchain technology, earning the title of “Crypto City.” This article explores Miami’s captivating fusion of crypto culture and its ever-evolving cityscape. Discover how the Magic City has emerged as a hotbed of innovation in decentralized finance, digital assets, and blockchain tech.

Crypto Culture and Cityscape

Miami’s captivating evolution goes far beyond its sun-soaked beaches and cultural diversity; it represents a profound cultural shift intertwined with cutting-edge technology. Nestled within Miami’s core, crypto enthusiasts and blockchain trailblazers immerse themselves in an exceptional fusion of cultural heritage and technological innovation.

At the forefront of Miami’s transformation is Mayor Francis Suarez, an ardent advocate for integrating cryptocurrencies into the city’s fabric. His visionary leadership has drawn global attention, magnetizing blockchain startups, tech visionaries, and crypto investors who seek to become part of Miami’s flourishing crypto landscape.

Projects and Companies

The burgeoning crypto landscape in Miami isn’t merely a passing trend; it’s a testament to the city’s thriving ecosystem of enterprising projects and companies, propelling the blockchain and digital currency revolution to new heights.

Yuga Labs

Miami’s unrivaled champion in the Web3 arena is Yuga Labs. This powerhouse is the proud owner of two of the globe’s most celebrated NFT collections: Bored Ape Yacht Club and CryptoPunks. These collections have collectively amassed an astonishing trading volume on the OpenSea NFT marketplace. Yuga Labs’ astounding success extends to the investment realm, with a jaw-dropping $450 million infusion in 2021, courtesy of their Andreessen Horowitz seed round. This substantial investment accounted for a significant portion of the $1 billion venture capital influx into Miami-Dade County’s tech firms.


FTX, a defunct centralized digital asset exchange, made an indelible mark in Miami’s crypto landscape. The exchange made headlines by committing $135 million to rename the Miami Heat NBA Arena as the FTX Arena for 19 years. However, following the bankruptcy of FTX, the naming rights deal was terminated. The arena was temporarily renamed to Miami-Dade Arena until they find a new naming rights partner. FTX had also partnered with Miami Heat legend Udonis Haslem through the “You In, Miami?” campaign, aiming to propel crypto adoption within Miami-Dade County. 


MoonPay, a prominent player in Miami’s cryptocurrency landscape, facilitates seamless cryptocurrency and NFT purchases through debit or credit cards. The company made headlines by securing an impressive $555 million in funding, surging its valuation to an impressive $3.4 billion. Demonstrating its commitment to the crypto and Web3 ecosystem, MoonPay launched MoonPay Ventures on August 29, an investment arm devoted to nurturing early-stage startups operating within the Web3, gaming, and associated fintech sectors. MoonPay Ventures is committed to providing crucial investments, ranging from $100,000 to $1 million, focusing on bolstering companies during their critical seed and Series A funding stages.

Maple Finance

Miami proudly hosts Maple Finance, a leading institutional credit protocol with a remarkable track record of issuing over $2 billion in loans since its establishment. This credit marketplace is poised to expand into the Asia-Pacific (APAC) region following a successful $5 million investment round in August. The fundraising effort was spearheaded by prominent investors such as BlockTower Capital and Tioga Capital, garnering enthusiastic participation from notable firms, including Cherry Ventures, The Spartan Group, GSR Ventures, and Veris Ventures. It’s worth highlighting that existing investors, including Maven 11 and Framework Ventures, exhibited their continued confidence in Maple Finance by increasing their capital commitments.

The Giving Block 

In crypto-driven philanthropy, Miami takes pride in hosting The Giving Block, a globally recognized digital asset onboarding platform that collaborates with over 1,000 nonprofits. The Giving Block’s commitment to charitable causes was prominently demonstrated through initiating a crypto fundraising campaign for Ukraine in response to the invasion, underlining Miami’s philanthropic leadership within the crypto community.

As highlighted in their 2023 Annual Report, The Giving Block achieved significant milestones in 2022:

  • Cryptocurrency contributions surpassed a remarkable $125 million on The Giving Block’s platform, marking a significant milestone in crypto giving.
  • Nonprofits on the platform received an average total of $26,000 in crypto donations, showcasing the growing influence of digital assets in philanthropy.
  • The platform received its largest crypto donation of the year, a generous $9.4 million contribution from Ethereum co-founder Vitalik Buterin through his philanthropic fund, Balvi.
  • If current trends persist, the Giving Block forecasts an impressive $10 billion in crypto donations over the next decade.

The Giving Block is the preferred asset donation platform for numerous charitable organizations, including renowned entities such as Save the Children, the American Cancer Society, and St. Jude Children’s Research Hospital, exemplifying its vital role in the philanthropic landscape.

Other notable blockchain companies in Miami include Quicknode, BetaBlocks, and NFTY Labs.

These pioneering projects and companies underscore Miami’s dynamic presence in the Web3 domain, encompassing NFTs, cryptocurrency exchanges, fintech, blockchain finance, philanthropy, and emerging technologies. Miami’s crypto ecosystem thrives, shaping the city into a global hub for digital innovation and blockchain adoption.   

Miami Coin

Yes, Miami has a native cryptocurrency. MiamiCoin (MIA), despite its name suggesting a direct affiliation with the City of Miami, is not under the city’s ownership. Instead, it is controlled by a company named CityCoins. The coin runs on the Stacks Protocol, which facilitates smart contracts on the Bitcoin blockchain.

The essence of MiamiCoin lies in its ability to create a crypto revenue stream for the city itself, all the while granting STX earnings to MIA holders. Beyond its role in supporting the city, MiamiCoin offers its holders opportunities for stacking and earning BTC via the Stacks protocol.

The arrangement between Miami and CityCoin was so that when users minted this token, 30 percent of the generated tokens would belong to Miami’s digital wallet and 70 percent to the user based on an agreement established between the city and CityCoins.

It’s noteworthy, however, that MiamiCoin’s journey in the cryptocurrency market has had significant volatility and a substantial loss in value. The token has experienced a drastic decline, losing approximately 99 percent of its initial value and rendering it worthless.

This development highlights the inherent risks associated with cryptocurrency investments, where price fluctuations can be extreme, and investments can result in significant losses. It also underscores the importance of thoroughly researching and understanding the nature and risks of any cryptocurrency or blockchain project before participating in it.

Where Can I Spend My Crypto?

In Miami, cryptocurrency isn’t just an investment; it’s a practical tool for everyday transactions. Let’s explore the diverse options for putting your digital assets to work in this dynamic metropolis.

Thesis Hotel

Thesis Hotel Miami, a four-star resort on South Dixie Highway, has positioned itself as a pioneer in the Miami region and one of the early adopters nationwide in embracing cryptocurrency as a viable payment method. In this innovative move, the hotel has partnered with BitPay, a global leader in cryptocurrency services, to offer guests the convenience of utilizing their cryptocurrency wallets for various transactions, including room reservations, dining experiences, and event bookings.

The cryptocurrencies accepted at THesis Hotel include Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and four USD-pegged stablecoins, namely GUSD, USDC, PAX, and BUSD.

By embracing these digital currencies, Thesis Hotel Miami provides its guests with a cutting-edge and forward-thinking payment alternative, fostering greater flexibility and convenience for cryptocurrency enthusiasts and travelers who prefer digital assets as a medium of exchange. 

Chotto Matte

Chotto Matte, a renowned global restaurant, invites Miami Beach diners to savor the delightful fusion of Nikkei cuisine, skillfully blending Japanese and Peruvian culinary traditions. In April 2022, as part of the NFT Week and Bitcoin Conference festivities, the restaurant launched its inaugural NFT. From April 4 to 10, patrons relished a limited-edition, Bitcoin-inspired cocktail dubbed the “10/31.” 

Dubbed “The Founder,” the inaugural NFT offered exclusive privileges for its fortunate holder. These coveted benefits include invitations to exclusive restaurant openings, luxurious first-class flights, accommodation arrangements for official events, VIP access to premium distillery and vineyard tours, the opportunity to enjoy a New Year’s Eve dinner for six at a location of your choice worldwide, and an exclusive at-home culinary experience guided by the restaurant’s Executive Chef. Adding to its allure, the NFT also offered tickets for two to attend one of the major sports events in 2022, spanning a thrilling array of sports such as FIFA, boxing, and Formula 1 races.


Coral Gables is home to Mamey, helmed by chef Niven Patel, a four-time James Beard nominee and a member of Food and Wine’s Best Chef class of 2020. Mamey exudes chic charm and offers farm-to-table cuisine influenced by Asian, Caribbean, and Polynesian flavors. Through its partnership with BitPay, Mamey enables guests to settle their bills using Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and four USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD).

Shelborne South Beach

Nestled within the iconic Ocean Drive, the Art Deco gem Shelborne South Beach offers a delightful escape. Its Oasis Garden, David’s Cafe (a beloved Miami spot for Cuban coffee), and iconic Art Deco pool deck evoke traditional South Beach nostalgia. Shelborne’s forward-thinking partnership with BitPay enables guests to make cryptocurrency payments seamlessly through the hotel’s website, email, or in person.

Experience the vibrant fusion of cuisine and cryptocurrency convenience in Miami’s culinary scene, and embrace the allure of crypto-friendly lodging at Shelborne South Beach.


For those seeking a vibrant nightlife experience in the heart of downtown Miami, just a short six-block jaunt from ‘FTX Arena,’ the renowned nightclub E11EVEN, beckons. The nightlife hotspot embraces digital currencies, allowing patrons to revel in the early hours while spending their hard-earned BTC. The club has hosted celebrities like Cardi B, Wyclef Jean, Post Malone, Nicki Minaj, and Drake.

Taking its commitment to the crypto realm further, Club E11EVEN embarked on a Web3 journey this year, introducing a crypto-centric facet of its brand known as “E11EVEN Crypto.” They brought this initiative to life through a collaborative effort with the blockchain firm Horizen Labs. The club also unveiled a striking non-fungible token (NFT) collection christened “11 Captain’s Club,” featuring artwork inspired by the club’s iconic hat designs, with a notable mint price of 1 ETH (approximately $2,700). These captivating NFTs are now available on the popular marketplace, OpenSea.

Crypto ATMs in Miami

Miami’s cryptocurrency landscape is thriving, with a network of crypto ATMs conveniently positioned across the city’s diverse locales. Per Coin ATM Radar, about 790 ATMs in and around Miami act as a gateway between fiat and digital currencies.

Notable locations include the Bitcoin Center Miami, nestled at the crossroads of the financial district and the crypto enthusiast community. Leading providers like BitStop, Athena Bitcoin, CoinFlip, BitBox, Coin Bank, and Cryptobase have established  ATMs in Miami. Gas stations and corner stores throughout Miami have integrated these ATMs into their offerings for convenience. While enjoying a shopping spree, you might visit cryptocurrency ATMs at popular malls, including Miami International Mall. 


Miami’s rise as a Crypto City isn’t just about financial growth—it’s about cultivating a knowledgeable and cohesive community that elevates its standing as a global blockchain hub.

In 2018, George Levy, a prominent digital assets instructor, established the Blockchain Institute of Technology, often called BIT, nestled within Miami’s vibrant Wynwood district. BIT offers comprehensive online courses covering various topics, including cryptocurrencies and the exciting world of NFTs. Notably, the institute presents the Certified Blockchain Professional Curriculum, a distinctive program that provides blockchain-verified, third-party credentials, bolstering one’s professional resume.

Over the years, BIT has extended its expertise, delivering cryptocurrency training programs to prestigious organizations such as the Mexican Ministry of Economy, the Central Bank of Curaçao and Sint Maarten, and the globally recognized accounting firm Ernst & Young. Moreover, BIT embraces the digital age by accepting cryptocurrency payments through BitPay, providing students with a convenient and cutting-edge option for settling their tuition fees.


Located within the dynamic heart of Miami’s Wynwood neighborhood, BitBasel is a central hub for crypto art and NFT technology, offering a creative space for local artists and developers to thrive. Founded by the visionary duo of Scarlett Arana and Jorge Cortes, BitBasel is a dynamic venue that hosts various engaging events. These include thought-provoking panel discussions, hands-on workshops, and inspiring hackathons to foster crypto enthusiasts’ growth.

BitBasel’s impact extends beyond its physical space as it spearheads the Miami DAO initiative. This organization has a dedication to the noble cause of expanding crypto education programs throughout Miami-Dade County, enriching the local community’s understanding of the blockchain and cryptocurrency realm. BitBasel’s presence within Wynwood exemplifies its commitment to nurturing Miami’s vibrant crypto culture and technological innovation.

Controversies and Collapses

While Miami’s journey into cryptocurrency and blockchain has its innovations and success, it has not been without its challenges and setbacks. In this section, we’ll explore some significant issues that have occasionally cast shadows over the Crypto City’s landscape.

In recent times, Miami has become synonymous with the cryptocurrency buzz, but it hasn’t been without its share of controversies. These issues raise ethical questions and underline the intricacies of regulating and navigating the digital currency landscape.

Miami Mayor Francis Suarez’s close connection with Sam Bankman-Fried (SBF), the former head of bankrupt FTX, a cryptocurrency exchange, has sparked discussions about the appropriateness of political figures aligning with crypto industry leaders. SBF allegedly swindled $8 billion in customer money.

Critics argue that Mayor Suarez has given precedence over promoting cryptocurrency over addressing the problems Miami residents face. Issues like housing affordability, rising rents, property insurance woes, and flooding have taken a backseat to crypto ventures.

Suarez’s vision for a “Bitcoin America 2024,” advocating for a “pro-Bitcoin” U.S. president and widespread Bitcoin integration, faced scrutiny following the recent crypto market downturn.

MiamiCoin, despite its name, isn’t owned by the city but by a company called CityCoins. The substantial loss in MiamiCoin’s value has raised queries about its promotion and ownership.

Claims of government involvement in promoting cryptocurrency schemes have fueled concerns about the ethical conduct of elected officials.

Miami has witnessed high-profile cryptocurrency fraud cases, including the indictment of Luiz Capuci, CEO of Mining Capital Coin, for his role in an alleged $62-million cryptocurrency fraud scheme.

Florida resident David Pike’s admission of guilt in defrauding investors of OneCoin, one of the most infamous Ponzi schemes in crypto history, emphasizes the presence of fraudulent schemes in the state.

Many early investors in the now-defunct Bitconnect, many of whom reside in Florida, have pursued a class-action lawsuit against those behind the Ponzi scheme. Victims received $17 million in restitution.

These controversies depict a multifaceted view of Miami’s immersion in cryptocurrency, underscoring the necessity for ethical governance, safeguarding investors, and responsible promotion of digital assets within the city.


Mayor Francis Suarez’s vision to embrace the potential of cryptocurrencies and blockchain technology has guided Miami’s incredible journey toward becoming a Crypto City. While the city has encountered its fair share of controversies, such as the MiamiCoin project, its commitment to fostering innovation, philanthropy, and financial accessibility through crypto technologies remains resolute. Miami’s landscape now features businesses that accept Bitcoin, vibrant crypto art hubs, and educational institutions dedicated to blockchain. As Miami’s crypto story unfolds, it grapples with challenges and opportunities, promising an intriguing and dynamic future for residents and the wider crypto community.


Is Miami becoming a cryptocurrency hub?

Miami actively embraces cryptocurrencies and blockchain technology, with numerous crypto-related events, businesses, and initiatives taking root.

Has Miami faced any cryptocurrency-related scams or fraud cases?

Unfortunately, Miami has seen its share of cryptocurrency scams and fraud cases, including Ponzi schemes and fraudulent crypto projects.

How does Miami support startups in the crypto space?

Miami fosters crypto startups through initiatives like MoonPay Ventures, which provides funding for early-stage Web3, gaming, and fintech companies.

How can I get involved in Miami's crypto community?

You can engage with Miami's crypto community through events, meetups, and local organizations focused on blockchain and cryptocurrencies.

What precautions should I take when investing in cryptocurrencies in Miami?

Conduct thorough research before investing in any cryptocurrency project, as scams and fraudulent schemes exist even in crypto-friendly cities like Miami.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Micah Abiodun

Micah is a crypto enthusiast with a strong understanding of the crypto industry and its potential for shaping the future. A result-driven Chemical Engineer (with a specialization in the field of process engineering and piping design), Micah visualizes and articulates the intricate details of blockchain ecosystems. In his free time, he explores various interests, including sports and music.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Subscribe to CryptoPolitan