Cryptocurrency companies have reportedly reentered the sporting world amid a new resurgence in their industry.
As the Financial Times (FT) reported Sunday (Feb. 23), crypto firms are increasing their investments and sponsorships of sporting teams, in hopes of tapping into enthusiasm for the sector brought about in part by Donald Trump’s presidency.
Among the recent high-profile transactions included stablecoin group Tether’s purchase of a 5% stake in Juventus, Italy’s most successful football club. Meanwhile, crypto exchange Gato.io reached a branding deal with Formula One racing team Red Bull Racing.
The industry, as the report noted, has been enjoying a revival inspired partly by the 2024 election, which sent the pro-crypto Trump back to Washington. His win has helped bring the price of bitcoin to record levels, while Trump himself has launched his own meme coin.
The crypto sector had been ramping up its…
