Hong Kong-based cryptocurrency exchange FTX has inked a five-year deal with Major League Baseball (MLB), according to a Jun. 23 report by Sports Business Journal.
MLB umpires will now wear special uniform patches with the sponsor's name.
This is the first partnership between a crypto exchange and a professional sports league. FTX CEO Sam Bankman-Fried claims that the patch puts the exchange's brand "right in the game."
The billionaire adds that the move is also meant to show that crypto is "here to stay" despite crashing prices.
Prior to that, the exchange purchased naming rights to Miami Heat's arena for $135 million. In addition, it acquired naming rights to North American esports giant Team SoloMid (TSM) for $210 million.
In total, FTX has now shelled out over $350 million on sponsorship deals within half a year.
As reported by U.Today, FTX is also seeking to open a Miami office in order to expand its presence in the U.S.