FTX.US Scores Deal With Owner of Washington Wizards, Capitals in Bid to Expand DC Presence

The crypto exchange hopes to become more visible among regulators with its latest sports partnership.

AccessTimeIconDec 20, 2021 at 12:45 p.m. UTC
Updated Dec 20, 2021 at 3:22 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Crypto exchange FTX.US has inked a deal with Washington, D.C.-based Monumental Sports and Entertainment (MSE) in its latest sports marketing partnership, the company announced Monday.

Among MSE’s properties are the Washington Wizards of the NBA, the Washington Capitals of the NHL, the Washington Mystics of the WNBA and Capital One Arena, where all three teams play.

The deal makes FTX.US the official crypto exchange of MSE and its properties, as well as their exclusive non-fungible token (NFT) partner. Terms of the deal were not disclosed.

“FTX is very much focused on being, you know, the adult in the room, in terms of working with regulators and helping wherever we can to push the industry forward in the right way,” FTX.US Vice President of Business Development Avinash Dabir told CoinDesk in an interview. “To be able to have a presence in D.C. in this manner goes hand-in-hand with our desire to work with everyone involved to make sure crypto is done properly.”

The deal with MSE comes fast on the heels of a global sponsorship deal FTX.US signed with the NBA’s Golden State Warriors for a reported $10 million.

Other major deals inked by FTX and FTX.US in the past year include the naming rights to the arena of the NBA’s Miami Heat and partial naming rights to University of California, Berkeley’s football stadium; logo patches on the uniforms of MLB umpires; and a star-studded lineup of ambassadors including Tom Brady, Stephen Curry and Shohei Ohtani.

FTX is far from the only crypto exchange pouring millions of dollars into sports marketing partnerships.

Crypto.com spent a reported $700 million to acquire the naming rights to Los Angeles’ iconic Staples Center in November. And Coinbase recently signed a multi-year ambassador deal with Kevin Durant and his media company Boardroom for an undisclosed amount.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.