Share this article
Crypto Exchange FTX Secures Naming Rights for Miami Heat Arena for $135M
This is the first occurrence of a crypto business winning the naming rights to a major U.S. professional sports venue.
Updated Mar 6, 2023, 3:08 p.m. Published Mar 24, 2021, 3:33 p.m.
Cryptocurrency exchange FTX has secured the naming rights to the home arena of NBA team Miami Heat for a reported $135 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Miami Herald reported Tuesday that the 19,000-capacity American Airlines Arena will become the FTX Arena.
- This is the first occurrence of a crypto business winning the naming rights to a major U.S. professional sports venue.
- FTX came to an agreement in principle with Miami-Dade County for a 19-year partnership, meaning the arena will bear the exchange's name until 2040.
- The agreement will go to the Miami-Dade County Board of County Commissioners for final approval at a special meeting on March 26.
- This is yet another sign of the increasing integration of the cryptocurrency industry into the mainstream, which has been gathering great speed this year.
- This year has also seen exchange Crypto.com secure a partnership with the Montreal Canadiens to have its logo brandished on the ice at its home arena, the Bell Centre.
See also: NBA Top Shot Overwhelmed by Demand in Record $1M Pack Drop
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
