The world of cryptocurrencies is not just about trading and investing anymore. It has now found its way into the heart of sports sponsorships, with a significant 20% increase in spending, totaling a whopping US$565 million. Leading the charge are major players like Crypto.com, Coinbase, and OKX, who have emerged as the top spenders in this unique arena.
SportQuake’s latest Marketplace report unveils fascinating insights into this burgeoning trend. Crypto.com takes the crown for being the industry’s most generous spender during the 2024/25 period by investing heavily in partnerships within prestigious events like the Uefa Champions League and Formula One, racking up a total expenditure of US$213 million. Following closely behind are Coinbase and OKX, making their mark as key players in reshaping sports sponsorship dynamics.
Interestingly, Gate.io made an impressive debut by securing fourth place with a substantial spending of US$53 million. The preference for soccer among crypto exchanges is evident with 20 out of 34 new sponsorship deals gravitating towards this beloved sport.
The narrative transcends beyond just financial figures; it tells a story of resilience and adaptation within the sports industry post-pandemic adversity. Sports entities turned to crypto brands to fill revenue voids caused by Covid-19 disruptions back in 2021. However, when the market downturn hit hard in late 2022, deals worth millions crumbled overnight.
FTX bore the brunt of this collapse, losing lucrative contracts with esteemed names like Miami Heat, Major League Baseball (MLB), and Mercedes F1 team. Despite these setbacks, crypto brands such as Crypto.com and Coinbase lead a remarkable resurgence in sports sponsorships today.
“The crypto winter of 2022/23 seems a long time ago as crypto sports sponsorship spend bounces back towards all-time highs,”
remarked Matt House from SportQuake. He highlighted standout performers like Crypto.com, Gate.io, and Kraken for their strategic investments that are reshaping traditional sponsorship landscapes.
As we look ahead to future trends, it’s intriguing to note that crypto exchanges are poised to become significant front-of-shirt buyers due to regulatory shifts banning betting companies from acquiring such prime advertising space starting from the 2026/27 season.
SportQuake predicts an upward trajectory for crypto brand sponsorships in 2025/26 as both existing giants ramp up their investments and new entrants jump on board for their inaugural splurge into this exciting domain.
With groundbreaking moves like Tether acquiring a minority stake in Juventus or F1 extending its partnership with Crypto.com until 2030 signaling deepening ties between cryptocurrencies and sports – it’s clear that this symbiotic relationship is here to stay.
