Cryptocurrency companies have become major participants in sports marketing, using stadium names, shirt sponsorships and global competitions to reach mainstream audiences. Although the collapse of several high-profile partnerships exposed the risks involved, spending recovered strongly during 2024 and 2025, with crypto brands estimated to have committed about $565 million to sports sponsorships during the 2024-25 period.
Crypto.com Arena and the Los Angeles Lakers
The most recognisable agreement remains Crypto.com’s naming-rights deal for the downtown arena used by the Los Angeles Lakers. The venue, previously known as Staples Center, became Crypto.com Arena on December 25, 2021.
The reported $700 million agreement runs for 20 years, giving it an average value of approximately $35 million per year. The contract was signed with Anschutz Entertainment Group, which owns and operates the venue, rather than directly with the Lakers. However, it also made Crypto.com an official cryptocurrency platform partner of the Lakers and the LA Kings.
This distinction is important because the sponsorship reaches beyond one team. The arena hosts Lakers basketball, Kings ice hockey, Los Angeles Sparks games, concerts, award ceremonies and other major events. When the deal was announced, the venue was attracting more than four million visitors across over 240 events annually. Its name is also repeated on television broadcasts, tickets, transport information and entertainment listings, creating a level of exposure that shirt or courtside advertising cannot easily reproduce.
For followers, DraftKings’ basketball betting markets provide another way of monitoring NBA fixtures and futures as teams compete at prominent venues such as Crypto.com Arena.
Crypto.com’s Global Sports Portfolio
The arena deal forms part of a much wider sponsorship strategy. Crypto.com reportedly agreed to pay around $175 million over 10 years to become the UFC’s official cryptocurrency platform and first global fight-kit partner. Its branding consequently appeared on fighters’ competition apparel, walkout clothing and equipment used by corner teams.
The exchange also signed a reported $100 million global partnership with Formula 1, becoming the championship’s first official cryptocurrency sponsor. That relationship was subsequently extended to 2030, demonstrating that some major sports organisations continued to see long-term value in cryptocurrency partnerships even after the sector’s downturn.
Further expansion brought Crypto.com into European football through a partnership with the UEFA Champions League for the 2024-27 commercial cycle. Taken together, these deals show a deliberate strategy built around properties with international audiences rather than isolated team sponsorships.
Bybit and Red Bull Racing
One of motorsport’s largest cryptocurrency agreements connected Bybit with Red Bull Racing. Announced in 2022, the three-year partnership was reportedly valued at $150 million, or approximately $50 million per season. Bybit branding appeared on Red Bull’s cars, team clothing and driver equipment during a period of exceptional competitive success.
The partnership coincided with Max Verstappen winning multiple drivers’ championships and Red Bull securing constructors’ titles in 2022 and 2023. That gave Bybit exposure alongside one of Formula 1’s most successful teams. However, the agreement concluded after the 2024 season and was not renewed for 2025.
Its conclusion illustrates an important feature of crypto sponsorship. Even when a partnership provides global visibility, frequent changes in marketing strategy, regulation and digital-asset markets can make renewal less predictable than in more established sponsorship categories.
OKX and Manchester City
English football has also attracted substantial investment. OKX became the official cryptocurrency exchange partner of Manchester City Football Club in 2022 before expanding into training-kit and playing-shirt sleeve sponsorship.
The sleeve agreement was reportedly worth more than $70 million over three years, while later industry estimates placed its annual value at around £20 million. The branding covers Manchester City’s men’s and women’s teams, giving OKX exposure through domestic competitions and the Champions League.
Unlike partnerships based primarily on logo placement, OKX has also used digital collectibles, augmented reality, artificial intelligence and Web3 experiences to engage supporters. Industry research cited by the European Sponsorship Association reported substantial improvements in perceptions of OKX’s trustworthiness and market position among exposed fans.
TSM and the warning provided by FTX
Some of the biggest announced deals did not survive. In 2021, FTX agreed to a 10-year, $210 million naming-rights partnership with esports organisation TSM, which temporarily adopted the name TSM FTX. The agreement was intended to finance international expansion and represented one of esports’ largest sponsorship contracts.
The arrangement collapsed in November 2022 when FTX filed for bankruptcy. TSM suspended the partnership, removed the exchange’s branding from jerseys and digital accounts, and returned to its original name. FTX’s failure also led other sports organisations to terminate their relationships with the company.
That episode changed how teams assess cryptocurrency partners. Large headline values are attractive, but franchises must also consider whether the sponsor has adequate financial reserves, reliable governance and permission to operate in relevant markets.
A more mature sponsorship market
Cryptocurrency’s relationship with sport has survived its first major crisis. Football and Formula 1 now account for much of the sector’s sponsorship spending, while basketball, combat sports, esports and major international competitions remain important platforms.
The largest partnerships demonstrate the potential benefits for both sides. Teams and leagues receive substantial commercial income, while crypto businesses gain credibility and exposure to enormous audiences. Yet the failures of FTX and other short-lived arrangements show that visibility does not equal stability.
The future is therefore likely to involve fewer speculative deals and more carefully structured partnerships. Crypto.com Arena remains the defining example because it combines an exceptional price, a 20-year term and association with the Lakers’ globally recognised identity. Whether every major agreement lasts as long will depend on the financial resilience of the companies whose names now appear across sport.
