FTX US Makes New Deal With NBA’s Wizards And NHL’s Capitals

FTX US makes new deals with the NBA Wizards and NHL’s Capitals of Washington, continuing its sports spree after it cut deals with Golden State Warriors, MLB, and Miami Heat as we reported in our previous cryptocurrency news.

FTX US makes a new deal with NBA’s Wizards and NHL’s Capitals of Washington while the exchange and other exchanges are navigating an uncertain US crypto regulatory landscape which is not a coincidence. The vice president of business development Avinash Dabir said:

“To be able to have a presence in D.C. in this manner goes hand-in-hand with our desire to work with everyone involved to make sure crypto is done properly.”

The deals were penned with Monumental Sports and Entertainment that owns the Wizards, Washington Mystics, and Capitals. What’s more, FTX US is now the official crypto exchange of Monumental Sports Entertainment and its client as well as an NFT partner. The crypto exchange locked down some agreements with two other NBA franchises in 2021 and back in May, it agreed to a 19-year deal with the Miami Heat that included naming rights to the team’s arena with the arena overtaking the former American Airlines Arena. Similar to the Wizards deal, the Miami deal saw FTX become the official crypto exchange partner of the Miami Heat.

Earlier this month, FTX and The Golden State Warriors agreed to a $10 million international rights sponsorships deal, as the Golden State Warriors President Brandon Schneider said at the time:

“FTX is a company that caught our eyes a couple of months ago. We think we’re at the beginning of the beginning. We’re all learning, and this space will evolve quite a bit.”

In the meantime, Coinbase won a huge NBA deal and became the exclusive crypto platform partner of the WNBA and NBA. The deal saw Coinbase branding appear in a televised NBA game as well as efforts to educate basketball fans about crypto including the other developments in the industry. Also, earlier this month, Coinbase inked a fresh deal with the NBA star Kevin Durant who is an early coinbase investor, and said that he was always curious about the business side of things and that he is trying to learn from the people that he met along the way.

And it’s not just FTX. Crypto.com spent $700 million to put its name on the Staples Center in LA in addition to the recent sponsorship deal with the F1 Team Aston Martin Cognizant and soccer giant Paris Saint Germain.