Cryptos

FTX Purchases Naming Rights For Cal Memorial Stadium At $ 17.5 Million To Display Its Mark

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Cal Memorial Stadium sold its naming rights in its second crucial branding move to FTX. This business was founded after the March purchase by Cal Memorial Stadium of the naming rights to Miami Heat Arena.

FTX, a Crypto-derivative trading platform, purchased Cal Memorial Stadium from University of California. This FTX initiative aims introduce its brand into Cal Memorial Stadium.

Sam Bankman-Fried’s derivatives exchange provides further insight into the sport. This is why they signed a 10-year, $ 17.3 million deal for the naming rights to the university stadium.

The new branding will be used by the Cal Golden Bears team to increase crypto awareness. As stated by BloombergThe FTX Field mark will now be worn by the home team every time they play in a game this season.

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The university’s $ 17. million naming rights agreement is also paid in cryptocurrency assets. This is the latest venture into sports sponsorship to increase awareness about crypto.

FTX US has teamed-up with the Miami Heat basketball club

FTX.US, a North American section of the same exchange, entered into a naming rights agreement with the Miami Heat Basketball team last March. The partnership resulted in the renaming and renaming of the home stadium as FTX Arena.

The organization is also becoming the formal crypto exchange of the MLB {Major League Baseball}. This is a part of the sponsorship contract that is expected last approximately 5 years. All Major League Baseball umpires must wear the corporate logo on their uniforms.

Numerous FTX executives have long-standing ties to the Cal Golden Bears. Sina Nader, who is the Chief Operating Officer (COO), was an alternate member of the Golden Bears during the time she was a student.

Last June, Tom Brady, the seven-time Super Bowl champion quarterback, and his wife Gisele Bündchen became partners in the Crypto derivatives exchange to encourage crypto adoption. As a result of this deal, Bündchen and Brady collected stakes in FTX, each receiving a crypto in exchange.

Furthermore, according to our source’s report on the 20eJuly, FTX breaks a record for crypto funding. They increased their funding to $ 900 million to take a position of “exchange decacorn”. This company is worth more than $ 10 billion.

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This agreement by FTX, Major League Baseball’s official sponsor, opened the way to a wider and better acceptance of digital assets.

Sam Bankman-Fried tweeted Wednesday that the five-year contract could be extended to include alliances.

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