Popular seaside city known for its cryptocurrency dining declares financial woes

Restaurants in Santa Monica are actively embracing cryptocurrency payments, and more than 400 California businesses have accepted cryptocurrency payments. FAT Brands, parent company of Round Table Pizza and Fatburger, began accepting payments to franchisee royalties in Bitcoin in April, marking its positive transformation to B2B cryptocurrency trading. Cryptocurrency transactions are cheaper than credit cards – potentially saving thousands of dollars for restaurants each year – and city initiatives like the “Bitcoin Office” also support the adoption of cryptocurrencies. Despite Santa Monica's recent financial difficulties over a $229 million abusing settlement, Santa Monica still positions itself as the center of cryptocurrency innovation.