FTX partners with an F1 team
Crypto exchange FTX announced that it had signed a partnership deal with a Formula 1 team. Its partnership with Mercedes-AMG Petronas continues its recent tradition of partnering with sporting entities.In a press release yesterday, FTX said, "This relationship will span multiple race seasons with the FTX logo being featured prominently on both the cars and the drivers. Part of the FTX branding will be unveiled during the upcoming Russian Grand Prix, which is scheduled for this coming Sunday, September 26th and will continue to expand leading up to the start of the 2022 season."
FTX is one of the leading crypto exchanges in the world, and it has been increasing its exposure globally via sporting partnerships. Over the past few months, FTX has partnered with sporting leagues and institutions such as the Miami Heats, the NHL and several others.
Sam Bankman-Fried, CEO and Founder of FTX, while commenting on this latest development, said, "FTX is thrilled to partner with the reigning Formula One World Champions and current team point leaders, Mercedes-AMG Petronas, to continue amplifying our position as the leading global cryptocurrency exchange. Under Toto's leadership, the entire Mercedes-AMG Petronas Formula One Team has been focused on excellence, and they have leveraged innovation to help them become seven-time Constructors' Champions."
Crypto.com is also partnering with sporting institutions
Another crypto exchange that has been partnering with sporting teams in recent months is Crypto.com. Earlier this week, Crypto.com partnered with the Philadelphian basketball team76ers. Crypto.com will become the team's official jersey patch partner, present a school to educate fans on cryptocurrency and also launch an NFT series by the 76ers.Crypto.com has also partnered with the likes of Paris Saint Germain, the National Hockey League's Montreal Canadiens and the UFC in recent months.
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