Share this article
FTX Signs $17.5M Deal to Sponsor UC-Berkeley Athletic Department
Sam Bankman-Fried's crypto exchange has signed its first college sports sponsorship deal, with the payment in this case to be made in crypto.
Updated May 9, 2023, 3:22 a.m. Published Aug 23, 2021, 3:29 p.m.
Make us preferred on GoogleFTX.US, the U.S. affiliate of crypto exchange FTX, has signed a $17.5 million, 10-year agreement with Cal Athletics, the athletic department of the University of California, Berkeley, for the naming rights to the field at California Memorial Stadium.
- The field will be known as the “FTX Field” at the California Memorial Stadium and is FTX.US’ first college-related cryptocurrency naming rights sponsorship. The Berkeley campus is the flagship campus of the University of California system.
- Cal Athletics’ multimedia rights holder Learfield will accept the payment in cryptocurrency on behalf of the university.
- FTX has been on a sports and e-sports sponsorship spending spree this year. In March, the exchange secured the naming rights to the home arena of NBA team Miami Heat for a reported $135 million, while in June, the exchange paid $210 million to acquire the naming rights for e-sports organization TSM.
- The latest deal involves FTX featuring its branding on press backdrops and launching a platform with Cal Athletics to support philanthropic projects.
- FTX has a connection to Cal Athletics through Chief Operating Officer Sina Nader, who is a Cal alumnus and was a walk-on member of the football team. "We're excited to partner with one of the world's great universities and expand crypto's presence into the collegiate athletics landscape," Nader said in a press release.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
