FTX is now “official crypto exchange” of the Major League Baseball (MLB) 🚨 This article is 3 years old...
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FTX is now “official crypto exchange” of the Major League Baseball (MLB)
The exchange has now spent millions of dollars trying to grow its brand in the US.
2 min read
Updated: Jun. 23, 2021 at 5:13 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto exchange FTX today announced it had signed a long-term, global partnership with Major League Baseball (MLB), an American professional baseball organization and the oldest of the major professional sports leagues in the United States and Canada.
1) We're really excited to partner with @MLB!
FTX is now the official crypto sponsor of Major League Baseball.https://t.co/QngD1flayG
— SBF (@SBF_Alameda) June 23, 2021
Signing on the MLB
FTX.US, the exchange’s American arm, has additionally formed an agreement with MLB Players Inc., a subsidiary of the MLB Players Association that manages all of the commercial activities for the organization. FTX will now have group player rights and is allowed the organization to use highlights of players in content creation.
Beginning with the MLB All-Star Game, presented by Mastercard, on July 13th, an FTX.US logo patch will adorn all umpire uniforms for regular season, Postseason, Spring Training and Jewel Event games.
This new agreement also provides FTX with worldwide marketing rights associated with MLB marks, logos, and special events. Fans will see applicable brand promotion around nationally televised MLB games, MLB.com, MLB Network, MLB.TV, social media platforms, and more high-impact baseball media. The exchange and MLB will announce additional partnership activation details at a later date.
“It’s an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America’s national pastime. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal with than with MLB and its international fan base,” commented FTX CEO and founder Sam Bankman-Fried in a statement.
MLB Chief Revenue Officer, Noah Garden added in this regard, “This is an incredibly exciting announcement for everyone in Major League Baseball as we partner with a global leader in the early stages of their unbelievable growth.”
BREAKING: Crypto exchange FTX has signed a deal to become MLB's official "cryptocurrency exchange brand."
FTX will also become the first company to sponsor a patch on the umpire's uniforms during games.
They've now spent ~$350M+ on sports sponsorships over the last 6 months.
— Joe Pompliano (@JoePompliano) June 23, 2021
The deal is the latest in a long list of partnerships and brand collaborations between FTX and other major US companies. FTX was founded only in 2019, making the breakneck growth even more surprising.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.