The renaming of the Staples Center in Los Angeles as the Crypto.com Arena is a victory for cryptocurrency enthusiasts but could potentially compromise cryptographers. Once upon a time, ‘crypto’ was used exclusively as shorthand for cryptography, but recent years have seen it being widely used in relation to cryptocurrencies such as Bitcoin and Ethereum. Matt Blaze, owner of the crypto.com domain, rejected multiple offers to sell the domain, stating that ‘calling cryptocurrencies “crypto” is a poor choice, with bad consequences for both cryptography and cryptocurrencies.’ This view, however, is not widely held. Although there are ongoing debates about cryptography and the regulation of cryptocurrency, precision in terminology is an essential component to the discourse. Given that legislators and regulators are not always subject-matter experts, clear definitions are necessary to avoid confusion, particularly in investment circles. It is vital to distinguish between cryptography and cryptocurrencies and to ensure that ‘crypto’ is specific to the right context. For investors, it is important to research cryptocurrency investments carefully and make wise choices based on current regulations.
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