The Bybit cryptocurrency exchange sponsors Red Bull Racing in Formula 1

$ 150 million will be allocated by the Sungapur-based company Bybit, operating in the cryptocurrency industry, for sponsorship Red Bull Racing - the leading Formula 1 team, in whose colors he drives, among others Max Verstappen, the world champion in the last season of racing for the fastest drivers and the best car designers in the world. 

Sponsorship of sports teams by companies from the Forex and cryptocurrency industries is nothing new. However, none of them have yet become involved in the most prestigious motorsport, the results of which are followed with bated breath by millions, if not billions of fans around the world - Formula 1. 

The first is Bybit - a Singapore-based company that was founded in 2018. Today this giełda kryptowalut is one of the largest in the world. It is estimated that it currently has 25 million active customers. Its turnover in the last 24 hours is over USD 846 million. 

The stock exchange is registered in the Virgin Islands and its headquarters are in Singapore. It also has offices in Hong Kong and Taiwan and is constantly investing in development - incl. into a fund that protects its clients against sudden changes in prices, which is of great importance especially with a leverage of 1: 100. bitcoin login they carry out as soon as possible and invest almost all funds immediately. In such a case, it's easy to lose, so Bybit runs an academy to educate clients, although on the other hand, he earns the most from the least educated. And - as you can see - she earns quite a lot, because she has just signed a record sponsorship contract.

Bybit will give $ 150 million in three years to develop Formula 1

Bybit's partnership with Red Bull Racing starts in the 2022 season that begins soon. Over the next three years, it will donate USD 50 million per year, making it the largest sponsorship agreement signed by a cryptocurrency company in history. 

- The exceptional energy and creativity of the Red Bull Racing team is a constant inspiration to us. The team changed the rules of the F1 game in the same way digital assets changed the global financial system Bybit co-founder and CEO Ben Zhou underlines.

Bybit, however, will gain not only publicity for this money. Both sides decided, inter alia, to jointly promote the issue of social tokens. For now, it is not known what exactly, but it can be assumed that these will be similar projects to those used by the world's largest football clubs that issue fan tokens. Their owners can participate, among others in inventing slogans encouraging athletes to fight, but also in deciding about some changes in the club or taking part, for example, in dinners and meetings with leading players.

Forex and cryptocurrencies sponsor sports teams

Sports and esports team sponsorship deals in the Forex and Cryptocurrency industries are nothing new. At the end of 2021, a broker from Australia - IC Markets - announced that he became a sponsor of ... six leading clubs of the German Bundesliga, whose star is the best striker in the world Robert Lewandowski. Earlier IC Markets became the official partner of Inter Milan - the leading team of not only Italian Serie A, but also European competitions.

In August 2021, the T1Markets broker became a sponsor of the Argentina football team, while eToro after two years, it returned to support the club from the British Premiere League - Aston Villa. 

Also in Poland, we have sponsors from the Forex and cryptocurrency industries. On the shirts and the stadium of the still current Polish champion, Legia Warszawa, there is the logo of the Plus500 broker, and Lechia Gdańsk, who is fighting for the podium and participation in European cups, advertises eToro.