NBA’s Steph Curry Seals FTX Crypto Pact Similar to Tom Brady’s

NBA Star Curry Gets FTX Trading Stake For Promoting Platform

08 Sep 2021, 03:23 AM IST

(Bloomberg) -- That’s some start in crypto.

A day after tweeting that he was just getting into crypto and soliciting advice, basketball star Stephen Curry announced a partnership with FTX, the fast-growing crypto platform run by Sam Bankman-Fried.

“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users,” Curry said in a release, noting the partnership marks his first investment in the crypto space.

The celebrated Golden State Warriors guard is the latest high-profile athlete to hold an FTX equity stake in exchange for being a brand ambassador as the company seeks to become a go-to crypto trading platform among retail investors. Football superstar Tom Brady and model Gisele Bündchen also signed their own deal with FTX earlier this year.

When Curry took to Twitter on Monday to ask for advice about cryptocurrency, Brady weighed in, saying “don’t laser eyes!” in an apparent reference to his own profile picture that signals support for Bitcoin.

FTX, which was valued at $18 billion in its most recent round of fundraising, has announced a number of sports-related deals and partnerships in recent months. The Cal Golden Bears signed a 10-year, $17.5 million naming rights deal with the company just last month. In addition, the NBA’s Miami Heat play in FTX Arena and the company is also the official crypto exchange of Major League Baseball. Curry’s foundation, Eat.Learn.Play. will also partner with the platform on charitable initiatives, according to the release.

“After meeting and speaking with Stephen, it was clear that he is a seamless fit for FTX,” said Bankman-Fried, FTX chief executive officer. “His tireless commitment to charity alongside a ferocious work ethic to become the greatest in any arena he steps foot in, whether it is basketball, investing or business, perfectly align with FTX’s core values. I look forward to working together with Stephen to create a positive impact for those who need it most in the world.”