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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.
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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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.
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