Crypto Companies Become Partners of Formula 1 Teams
Date: 2025-03-12 Author: Oliver Abernathy Categories: BUSINESS
In 2025, the largest crypto platforms significantly strengthened their presence in the world of sports by becoming partners of Formula 1 teams. One of the most notable deals was the collaboration of the crypto exchange Crypto.com with the Formula One Group. It joined the ranks of global partners, which already include such giants as Qatar Airways, DHL, Salesforce, Lenovo, and LVMH. Thus, crypto assets are becoming an increasingly important part of the business in the world of motor racing.
This season, many Formula 1 teams have also signed contracts with crypto companies. For example, Red Bull Racing, one of the most successful teams in the championship, received sponsorship support from the Gate.io exchange. Last year, the team's crypto sponsor was Bybit, which highlights the growing interest in cryptocurrencies among sports organizations.
The largest American crypto exchange Coinbase has also decided to become part of the Formula 1 world by signing a partnership agreement with the Aston Martin team. The peculiarity of this contract is that it was the first in history where the entire amount was paid in USD Coin stablecoins, which once again confirms the growing integration of cryptocurrencies into various sectors of the economy.
The OKX cryptocurrency exchange will continue to support the 2024 champions, the McLaren team. It is one of the three main sponsors of the team along with such global brands as Mastercard and Google. Also, Binance, the world's largest crypto exchange, has become the official sponsor of the Alpine team, and the ApeCoin crypto project from Yuga Labs has joined the team's partners.
In addition, the Kick Sauber team has acquired two crypto sponsors at once: crypto sites Stake and CoinPayments, which will offer support to the racers this season. In turn, the Kraken exchange signed a contract with the Atlassian Williams Racing team.
It is impossible not to note the participation of Cash App, a well-known American payment system, as a major sponsor of the Red Bull subsidiary team – Racing Bull. Although Cash App cannot be called a cryptocurrency company in the full sense of the word, it actively works with digital assets, conducting billions of dollars in transactions.
However, two teams – Mercedes and Ferrari – were left without crypto sponsors this season. Previously, they were supported by FTX and the blockchain company Velas, but after the bankruptcy of the first and the termination of cooperation with the second, the teams are looking for new ways to attract sponsors.
Thus, crypto companies are becoming an integral part of the Formula 1 world, providing financial support to teams and helping to develop the sports industry.
