Staples Center's new name revealed
The two pacts are the latest in a string of pricey agreements the two rivals have made at a combined cost of some $760 million, money that teams and leagues are eager to take as they try to recoup“I think it’s happening everywhere—more and more people are getting interested in crypto,” FTX founder and CEO Sam Bankman-Fried, the. “But athletes are high profile and among the easiest to see.”
Bankman-Fried, the son of two Stanford Law professors and a graduate of MIT, first jumped into crypto in late 2017 after spotting a lucrative arbitrage opportunity. Two years later, he founded FTX in Hong Kong, and he eventually moved the headquarters to the Bahamas. The company has since become a leading exchange for buying and selling crypto derivatives. Marszalek founded crypto payment platform Monaco in 2016, before its rebranding as Crypto.com in 2018.
In the past year, FTX has dropped at least $360 million on naming rights and endorsement deals, including this week’s signing of Ohtani, who multiple outlets report will be paid in cryptocurrency. It also has deals with Tom Brady and Stephen Curry as brand ambassadors, reportedly giving all three equity in the business. Additionally, FTX has naming rights deals with the Miami Heat, the UC Berkeley football team and esports organization TSM. Crypto.
to land partnerships with the Philadelphia 76ers, Paris Saint-Germain, the Montreal Canadiens, esports team Fnatic, Major League Baseball, UFC, Formula 1, Serie A and the Twitch Rivals tournament, according to
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