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$100K in Bitcoin Up for Grabs as FTX's MLB Team-Up Advances

Sam Bankman-Fried’s sponsorship deal with Major League Baseball now involves giving away free bitcoin.

By Tanzeel Akhtar
Updated Sep 14, 2021, 1:33 p.m. Published Jul 31, 2021, 1:19 p.m.
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Crypto exchange FTX's sponsorship deal with Major League Baseball (MLB) has advanced to giving away free bitcoin.

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FTX and MLB struck a baseball deal in June that involves FTX branding appearing on all umpire uniforms starting at the All-Star Game in Denver on July 13.

Now, in a new twist, the two firms have announced a competition called “MLB Moonblasts Pick 'Em.” The winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run during the rest of the season. The competition ends Saturday at 2:00 p.m. ET and is open to U.S. residents only.

Read more: FTX Strikes Sponsorship Deal With MLB, Umpires to Wear Crypto Exchange’s Logo

In March, FTX secured the naming rights to the home arena of National Basketball Association team Miami Heat for a reported $135 million.

FTX's MLB sponsorship and their bitcoin giveaway is another sign of the increasing integration of the cryptocurrency industry into mainstream sports.

Earlier Saturday, FTX CEO Sam Bankman-Fried tweeted that the exchange has become the first cryptocurrency derivatives exchange to receive a U.S. GAAP audit.

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Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.

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  • Bitcoin’s price recovered above $70,000 after a drop, driven by cooler-than-expected U.S. inflation data and increased risk appetite.
  • Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
  • $8.7 billion in bitcoin losses were realized in the last week, potentially signaling a capitulation event and a shift of supply to stronger hands.
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