Cryptocurrency companies would have reintegrated the sports world in the midst of a new resurgence in their industry.
Like the Financial Times (FT) reported Sunday (February 23), cryptographic companies increase their investments and sponsorship of sports teams,, in the hope of drawing from Enthusiasm for the sector Presented in part by the presidency of Donald Trump.
Among the High -level recent transactions included the purchase by Stablecoin Group Tether of a 5% stake in Juventus, the most successful football club in Italy. Meanwhile, Crypto Exchange Gato.io has concluded a brand agreement with the Formula 1 Red Bull Racing racing team.
THE industry, as reported by the report, Played a renewal partly inspired by the 2024 elections, which returned the Pro-Crypto Trump to Washington. His victory helped bring the price of bitcoin at recording levels, while Trump himself has launched his own coin.
The cryptography sector had been accelerate its partnerships With sports teams during the last Haussier market for digital assets. SO FTX’s collapse came In the fall of 2022, leaving a number of teams and sports leagues high and dry.
SO Far this year, cryptographic companies concluded 22 transactions related to sport, against 18 during the same period in 2022The FT said, citing data from the Sportquake Marketing Agency. The number of transactions climbed to 117 last year, against 93 the previous year, but still below 173 reached in 2022.
The average value of this year’s new offers reaches approximately $ 4.3 million, added the report, compared to $ 2.6 million during the same period in 2024. 2024 The value of the new transactions announced has reached $ 305 million, compared to $ 247 million the previous year but even less than half of the $ 681 million in 2022.
Writing on the crypto landscape changing last week, Pymnts noted that American financial institutions and payment companies do not need Reinvent the wheel when he is found at integrate digital assets into their financial Systems.
“By observing how regulated savings successfully use digital assets – by tokenization, stablecoins And Compliant DEFI models – US companies and banks can be positioned competitively for the digital transformation during finances, ”according to this report.
Meanwhile, last week brought a few different Signs of attitudes to crypto in the United States, for example, Coinbase has announced that the Securities and Exchange Commission (SEC) was set dismiss It is application case Against the cryptocurrency company, subject to the commissioner’s approval.
Also last week, Binance.us began accepting Dollar deposits and withdrawals after a drought of 19 months, one triggered by another Dry investigation.
