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Top NBA Pick Paid in Bitcoin for BlockFi Sponsorship Deal

Former Oklahoma State star Cade Cunningham's multi-year deal with the crypto lender includes a bitcoin signing bonus.

By Danny Nelson
AccessTimeIconAug 19, 2021 at 4:00 p.m. UTC
Updated May 9, 2023 at 3:22 a.m. UTC
Detroit Pistons draft pick Cade Cunningham

Detroit Pistons draft pick Cade Cunningham

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Top NBA draft pick Cade Cunningham signed a sponsorship deal with crypto firm BlockFi Thursday that will see the up-and-coming Pistons point guard receive his signing bonus in bitcoin. 

BlockFi wouldn’t say how much Cunningham’s bitcoin signing bonus was worth. It intends to collaborate with the former Oklahoma State University star on educational and promotional videos through the “multi-year” deal.

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    • The deal continues a trend of top-drafted athletes forging early-career pacts within the digital assets industry – and receiving at least part of their payout in crypto. Trevor Lawrence, the first overall draft pick in in the National Football League, received a mix of bitcoin, ether and solana when he signed an FTX sponsorship in April.

    Crypto companies are racing to build brand recognition across global sports. Whether it's a soccer team wearing a dogecoin logo, an umpire emblazoned with FTX or a UFC octagon brought to you by Crypto.com, the big players have mounted an advertising blitz with their bull market gains.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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