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Crypto Boom: Sports Sponsorships Surge to $95M in 2023
Generated by AI AgentCoin World
Sunday, Feb 23, 2025 8:00 pm ET1min read
The cryptocurrency industry has witnessed a significant surge in sports sponsorship deals this year, with 22 deals closed so far, averaging $4.3 million each. This marks a substantial increase from the same period last year, when 18 deals were closed with an average value of $2.6 million.
Some of the notable deals include Tether's acquisition of a minority stake in Juventus for approximately $50 million, Coinbase's sponsorship agreement with the Aston Martin F1 team, which was paid for entirely in stablecoins, and Gate.io's partnership with the Red Bull Racing team. Additionally, XBO.com became the official global sponsor of the Argentina national team for 2025.
This trend reflects the growing interest and investment in the cryptocurrency sector, as companies seek to increase their visibility and credibility through high-profile sports sponsorships. As the industry continues to evolve, it is likely that we will see more such deals in the future.
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