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Coinbase has struck a new deal with the Golden State Warriors, positioning itself as the NBA team's "official cryptocurrency platform".
Author: Sahil Thakur
Written On: Sun, 27 Oct 2024 08:36:55 GMT
Coinbase has struck a new deal with the Golden State Warriors, positioning itself as the NBA teamâs âofficial cryptocurrency platform and blockchain partner.â This partnership marks a significant moment for both parties, as Coinbase steps into a sponsorship role previously occupied by FTX, the exchange that collapsed in 2022.
Key Highlights:
This deal also deepens Coinbaseâs existing relationship with the NBA, as the exchange is already involved in multi-year sponsorships with the league. Coinbase Chief Marketing Officer Kate Rouch expressed enthusiasm for bringing Warriors fans on-chain, stating, âOur exclusive partnership with the Golden State Warriors gives fans simple and fun ways to try it out.â
The agreement comes at a time when crypto sponsorships are regaining momentum after a slump following the FTX collapse. The Warriors were directly impacted by that event, having signed a $10 million deal with FTX in December 2021, which was abruptly terminated after FTX filed for bankruptcy.
This new collaboration signals both Coinbase and the Warriorsâ confidence in the crypto space, despite legal challenges Coinbase faces with the U.S. Securities and Exchange Commission (SEC) over unregistered securities. The Warriors, along with star player Steph Curry, remain entangled in legal disputes related to their previous endorsements of FTX, which are still being litigated.
Despite these hurdles, the Coinbase-Warriors partnership reflects a renewed focus on leveraging blockchain to enhance fan engagement and introduce more innovative, on-chain opportunities for sports enthusiasts.
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