The glitzy crypto awards show gets weird when the host toasts guests over dismal failures

It was weird.

The Crypts

This week in the cryptosphere has been weird, however you slice it. Headlining the crap show, of course, was disgraced ex-FTX CEO Sam Bankman-Fried’s ill-advised Redemption tour, which only confirmed the theory that some people just can’t shut up; elsewhere, bitcoin continues to tank, and at least one other major crypto exchange announced sweeping layoffs.

As such, you would be forgiven for thinking that this was going to be a terrible week for the crypto industry to host their first high dollar awards show, but inexplicably they did just that.

It was called The Crypties and it sounds deeply odd.

host roast

As The New York Times The Crypties reportedly took place in the crypto-friendly city of Miami during the glamorous Art Basel festival because, of course, they were. Comedian Josh “The Fat Jewish” Ostrovsky, who rocked an aesthetic of “no shirt, no shoes, just furry pink pants and a matching no-zip jacket,” hosted the event.

From what we’ve read, his set sounded pretty fun – although it had a definite “I hate web3” vibe.

“This event is taking place in Florida, home of the natural disaster,” he told the audience loudly NYT. “And tonight we’re going to celebrate a man-made one: cryptocurrency.”

“Your skeptical friends and your aloof parents told you that cryptocurrency was a passing fad and that one day all those coins would be utterly worthless,” he continued. “But tonight… let’s defiantly say, ‘Only some of them!'”

Of course, The Crypties didn’t just happen. They were officially organized by Decrypt Studios, and the advisory board included CAA’s Jared Friedman and Vayner Media executive Avery Akkineni (the latter, the NYT Notes, didn’t seem particularly fond of Ostrovsky’s crypto roast).

Big Winners

Ten awards were technically given, although the NYT reports that, unfortunately, surprisingly few winners were actually there to receive their awards.

But again, it’s been a strange week, and folks who didn’t show up, like Coinbase CEO Brian Armstrong — who was named “Investor of the Year” — are busy. Armstrong had reportedly invested about $15 million in embattled crypto exchange FTX and elsewhere made some trades with FTX-pegged hedge fund Alameda Research. So bigger fish to fry.

The food sounded delicious, and someone in the crowd apparently admitted to buying “a zebra” when crypto prices were still skyrocketing, so it all sounds like fun. But anyway. I’m looking forward to next year.

CONTINUE READING: Crypto crashes, but awards continue [The New York Times]

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