Overview Most people know OnlyFans as the platform that reshaped how adult content creators monetize their work. Far fewer know that the company's UK-based parent, Fenix International, quietly accumulOverview Most people know OnlyFans as the platform that reshaped how adult content creators monetize their work. Far fewer know that the company's UK-based parent, Fenix International, quietly accumul
Overview
Most people know OnlyFans as the platform that reshaped how adult content creators monetize their work. Far fewer know that the company's UK-based parent, Fenix International, quietly accumulated nearly $20 million worth of Ethereum (ETH) between 2021 and 2022 — placing itself among the rare group of private companies willing to hold crypto directly on their balance sheets.
This wasn't a one-off bet. From ETH holdings and NFT profile features to a Polygon-based NFT marketplace, Fenix International built a quiet but coherent blockchain strategy. Now, with reports of a $5.5 billion stake sale and a potential 2028 IPO circulating, the world is finally paying closer attention to the crypto story hidden inside one of the internet's most profitable platforms.
Key Takeaways
Fenix International invested approximately $19.9 million in Ethereum between 2021 and 2022, classifying it as an intangible asset
A bear market in 2022 reduced the value to roughly $11.4 million, triggering an impairment loss of around $8.46 million
OnlyFans launched Ethereum-based NFT profile pictures in 2022; former executives later created Zoop, an NFT trading platform built on Polygon
In early 2026, Fenix International reportedly entered exclusive talks with Architect Capital to sell a 60% stake at a $5.5 billion valuation, with plans for a 2028 IPO
Fenix confirmed there are no restrictions on selling its crypto holdings
The case signals a growing trend: mainstream enterprises quietly treating digital assets as legitimate treasury instruments
Who Is Fenix International?
OnlyFans was founded by Tim Stokely in London in 2016. In 2018, majority control was sold to Leonid Radvinsky, a Ukrainian-American entrepreneur. Under his ownership, the platform's growth accelerated dramatically.
According to Reuters reporting from January 2026, OnlyFans now generates approximately $1.6 billion in annual net revenue, making it one of the most profitable private tech companies globally. Radvinsky alone reportedly extracted nearly $1 billion in dividends from the company over two years.
Fenix International is the UK-registered holding company that owns OnlyFans outright — and the entity that, without much public fanfare, decided to buy Ethereum.
The $19.9 Million Ethereum Position
In August 2023, Fenix International filed its annual accounts — covering the period through November 30, 2022 — with the UK's Companies House. Buried in the 48-page strategic report was this disclosure:
"During the year, the Group diversified part of its working capital into a cryptocurrency asset ('Ethereum' or 'ETH'). There are no limitations or restrictions on the Group's ability to sell the cryptocurrency assets."
As The Block reported, the investment appeared under approximately $19.89 million in intangible asset purchases. The estimated average purchase price was around $2,000 per ETH, based on when the acquisition likely took place in mid-2022.
The timing proved costly. The year 2022 was devastating for crypto: Terra/LUNA collapsed, Celsius filed for bankruptcy, and FTX imploded. ETH dropped from around $2,800 at the estimated purchase price to approximately $1,295 by November 30, 2022.
CoinTelegraph noted that Fenix recorded an impairment loss of approximately $8.46 million, leaving the carrying value of its ETH holdings at roughly $11.4 million.
Despite the loss, the company chose to hold — a deliberate decision that speaks to a longer-term view on Ethereum's value.
Beyond the Balance Sheet: OnlyFans' Full Blockchain Footprint
The ETH purchase was just one layer of Fenix International's blockchain strategy.
Ethereum NFT Profile Pictures (February 2022)
At the height of the NFT boom, OnlyFans enabled verified creators to display their Ethereum-based NFTs as profile pictures — integrating blockchain ownership directly into the platform's creator identity system. The company described this as "the first step in exploring the role that NFTs can play on our platform."
Zoop: The Polygon NFT Marketplace
In June 2022, two former OnlyFans executives — including founder Tim Stokely — launched Zoop, a celebrity trading card platform built on Polygon, Ethereum's Layer 2 scaling solution. Users could buy and trade 3D digital playing cards representing celebrities and influencers. Though the project later went quiet, its architecture reflected a serious attempt to merge creator culture with blockchain-native monetization.
Creators Flood Into Friend.tech
Around the same time as the ETH disclosure, large numbers of OnlyFans creators migrated to Friend.tech — a decentralized social media application built on Coinbase's Base network. The overlap was not coincidental: the OnlyFans creator community has consistently shown higher-than-average affinity for crypto-native platforms.
Zoop's TikTok Bid (2025)
According to a detailed investigation by Techloy, in 2025 Zoop partnered with the HBAR Foundation to submit a bid for TikTok's US operations. The proposal centered on blockchain-based creator payments and distributing 80% of advertising revenue directly to users. The bid was unsuccessful, but it demonstrated just how far the Web3 vision within the OnlyFans ecosystem had evolved.
2026 Update: The $5.5 Billion Stake Sale and IPO Plans
The crypto story is unfolding alongside a major corporate transition.
Bloomberg reported in February 2026 that Fenix International entered exclusive talks with San Francisco-based Architect Capital to sell approximately 60% of the company, with a structure comprising $3.5 billion in equity and $2 billion in debt — a total enterprise value of $5.5 billion. TechCrunch's reporting noted that Architect Capital plans to improve OnlyFans' payment infrastructure and target a public listing by 2028.
Adding weight to the transition: as noted in Access IPOs' timeline, majority owner Leonid Radvinsky passed away on March 23, 2026, at age 43. The disposition of the company's Ethereum holdings remains publicly undisclosed.
What This Means for the Crypto Industry
The OnlyFans case is part of a wider pattern — and it differs from earlier corporate crypto buyers in important ways.
It's a non-tech-native company making a quiet bet. Fenix didn't frame its ETH purchase as a brand-defining move. It was a treasury diversification call — which may be exactly how many future corporate crypto purchases will happen: without press releases, buried in annual filings.
It validates Ethereum's role as a corporate asset. Despite booking an $8.46 million impairment loss, Fenix chose not to sell. That patience is consistent with how institutional-grade investors treat volatile-but-fundamentally-sound assets.
It points toward a wave of "invisible crypto whales." As accounting standards around digital assets become clearer globally, more companies will disclose crypto holdings in routine filings — without ever calling themselves crypto companies.
For traders watching how institutional flows are reshaping the ETH market, MEXC offers deep ETH liquidity across spot and derivatives markets, with some of the lowest trading fees in the industry.
FAQ
How much Ethereum did OnlyFans' parent company buy?
Fenix International invested approximately $19.9 million in Ethereum between 2021 and 2022. By the end of November 2022, the position had declined in value to around $11.4 million, resulting in an impairment loss of approximately $8.46 million.
Does OnlyFans accept crypto payments?
As of this writing, OnlyFans still relies on credit cards and traditional payment processors for subscriptions and tips. The platform has not enabled direct cryptocurrency payments, despite the parent company's ETH holdings and broader blockchain activity.
Did Fenix International ever sell its Ethereum?
There is no public disclosure confirming a sale. The 2022 annual filing stated there were no restrictions on selling, but no subsequent update has been made. Following Radvinsky's death in March 2026, the disposition of these assets remains unclear.
What is Zoop, and is it still active?
Zoop is an NFT trading platform launched in June 2022 by former OnlyFans executives, built on Polygon. It allowed users to trade 3D digital collectible cards featuring celebrities. Activity declined after launch, though Zoop resurfaced in 2025 with a bid for TikTok's US business, proposing blockchain-based creator payments.
Is OnlyFans going public in 2028?
Architect Capital, which is in exclusive talks to acquire 60% of OnlyFans, has indicated a path to a 2028 IPO. The acquisition itself is not yet finalized and could take months to complete — or may not happen at all.
Where can I trade Ethereum?
MEXC supports ETH trading across multiple pairs including ETH/USDT, with both spot and futures options, low fees, and access for users in over 170 countries.
Disclaimer
This article is for informational purposes only and does not constitute investment, financial, or legal advice. Cryptocurrency markets are highly volatile and involve significant risk of loss. Readers should conduct their own research and consult qualified professionals before making any financial decisions. All historical data and figures referenced are sourced from publicly available filings and media reports. MEXC Crypto Pulse Team makes no warranties regarding the completeness or timeliness of the information provided.
About the Author
MEXC Crypto Pulse Team is the market intelligence and content division of MEXC, one of the world's leading cryptocurrency exchanges. The team tracks institutional moves, on-chain data, and macro developments across global crypto markets, providing traders and investors with in-depth, accurate, and actionable analysis.
Sources
Want the fastest access to MEXC's latest updates? Join our official Telegram group now!
Account Verification: Understand KYC | How to Complete KYC
Market Opportunity
Humanity Price(H)
$0.18261
$0.18261$0.18261
USD
Humanity (H) Live Price Chart
Description:Crypto Pulse is powered by AI and public sources to bring you the hottest token trends instantly. For expert insights and in-depth analysis, visit MEXC Learn.
The articles shared on this page are sourced from public platforms and are provided for informational purposes only. They do not necessarily represent the views of MEXC. All rights remain with the original authors. If you believe any content infringes upon third-party rights, please contact [email protected] for prompt removal.
MEXC does not guarantee the accuracy, completeness, or timeliness of any content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be interpreted as a recommendation or endorsement by MEXC.
Learn More About Humanity
View More
How to Read Solana RSI: Current Value, Chart Signals, and MACD Analysis
Most people stare at SOL's price chart and wonder what to do next. Many experienced traders don't just watch the price — they also track momentum indicators like the Solana RSI. This article breaks
2026/04/27
Ethereum RSI Indicator: How to Read ETH Overbought and Oversold Levels
If you've ever looked at an ETH price chart and wondered whether it's a good time to buy or sell, the Ethereum RSI is one of the first indicators worth understanding. This article breaks down what
2026/04/22
What Is the Ethereum Rate? ETH Exchange Rate, Funding Rate & Staking APY
When people search for the "Ethereum rate," they're not always looking for the same thing. Some want to know the current ETH to USD exchange rate. Others are traders checking the perpetual funding
2026/04/21
Latest Updates on Humanity
View More
David Silver Ineffable: H Rise Analysis
The post David Silver Ineffable: H Rise Analysis appeared on BitcoinEthereumNews.com. DeepMind’s legendary scientist David Silver, the man who made history with
2026/04/29
Alchemy-Privy Integration Accelerates Onchain – COINOTAG
The post Alchemy-Privy Integration Accelerates Onchain – COINOTAG appeared on BitcoinEthereumNews.com. Alchemy and Privy Technical Integration Announcement Alchemy
2026/04/29
The Transformation of Autonomous AI Agents: Consensus 2026 and the Rise of H
The post The Transformation of Autonomous AI Agents: Consensus 2026 and the Rise of H appeared on BitcoinEthereumNews.com. Autonomous AI agents are making payments
2026/04/29
HOT
Currently trending cryptocurrencies that are gaining significant market attention
Crypto Prices
The cryptocurrencies with the highest trading volume
Newly Added
Recently listed cryptocurrencies that are available for trading