Cryptocurrency exchange FTX.US has expanded its presence in mainstream sports through a partnership Monumental Sports and Entertainment (MSE), the company behind NBA franchise the Washington Wizards and the NHL’s Washington Capitals.
Speaking to CoinDesk on Monday, FTX.US VP of business development Avinash Dabir confirmed that Washington, DC was an important jurisdiction for the exchange.
“To be able to have a presence in DC in this manner goes hand-in-hand with our desire to work with everyone involved to make sure crypto is done properly.”
FTX has previously made headlines by announcing a 19-year partnership with the Miami Heat, which included naming rights to the franchise’s home arena. The deal was worth $135m. In a similar move, FTX became an international partner to the Golden State Warriors in a deal valued at $10m.
FTX’s partnerships go well beyond the world of traditional sports. In fact, FTX’s biggest partnership to date with a competitive franchise is with Team SoloMid, an esports team, that cost the company $210m and is now known as TSM FTX.
MSE president of business operations Jim Van Store said: “The integration of blockchain technology with the sports experience has only just begun, and together we are going to advance to an entirely new frontier, which will ignite fans beyond what they can even imagine today.”
Crypto companies continue to show interest in mainstream sports teams. Previously, Coinbase signed a partnership with the NBA.
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