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Major League Baseball Inks Partnership with Crypto Exchange FTX

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Wed, 06/23/2021 - 12:52
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Alex Dovbnya
Crypto exchange FTX has reached a five-year deal with Major League Baseball
Major League Baseball Inks Partnership with Crypto Exchange FTX
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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.

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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.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.