The International Cricket Council and FTX Strikes a Global Partnership

Bob Coiney

October 18, 2021

FTX Trading Limited, one of the most prominent cryptocurrency exchange platforms, has announced a global partnership with the International Cricket Council, the governing body of cricket, globally, that would see it sponsor major ICC as II continues its expansion into the sporting world.

Beginning with the ICC Men’s T20 World Cup, hosted by India and staged in Oman and the United Arab Emirates, all major ICC men’s and women’s World Cups, as well as men’s and women’s T20 World Cups, Men’s Under-19 World Cup, and Men’s Cricket World Cup Qualifiers, will be included in the collaboration.

FTX is leading the path for worldwide cryptocurrency adoption, and its latest collaboration with the International Cricket Council shows its ambition to be one of the loudest voices announcing cryptocurrency. The platform, one of the busiest cryptocurrency exchange groups in the world, is spearheading a digital economy revolution, and recently, it has announced several partnerships within the sporting world, which has a huge fan base.

Crypto sponsorship has shown to be the only method for the growing crypto world to spread across all industries, and the athletic world’s acceptance of cryptocurrency will certainly be a huge success for the crypto community. Sports have billions of fans and a slew of sponsorship deals worth billions of dollars over the years. 

Reaction to the Partnership

Reacting to the recent partnership between ICC and FTX, Sam Bankman-Fried, CEO and Founder of FTX, said,  “Cricket is a long-established sport with deep a history and team ties that go back generations. Cryptocurrency is still in its infancy and at FTX we are looking to forge a new path in mostly unchartered territory. However, to me, this partnership represents the marriage of those two concepts. It is an honour to be a part of the men’s and women’s cricket tournaments, and we look forward to building a strong relationship with the International Cricket Council in the years to come.”

Similarly,  Anurag Dahiya, Chief Commercial Officer, ICC, reacted to the collaboration, noting the global organization’s excitement over its latest addition. Dahiya reportedly said,  “We are delighted to welcome FTX to our diverse family of partners at the ICC at an especially exciting time for the sport, with the highly anticipated ICC Men’s T20 World Cup coming up shortly. FTX has successfully established itself in a very dynamic sector as one of the world’s leading cryptocurrency exchanges. Their innovative and ambitious approach matches well with the energy of our sport. We look forward to working together on opportunities to engage fans in exciting new ways over the coming years and throughout our events.”

FTX has been Expanding

Starting on October 17th, FTX will be responsible for sponsoring all major ICC events until 2023, commencing with the first match series. The organization has long dabbled in the sports business, securing various deals in the process, including one with Mercedes Formula One and another with Major League Baseball.

FTX Trading, which was founded in 2019, is one of the most popular cryptocurrency exchanges, with an average daily trading volume of $10 billion as of July 2021. The exchange currently has over one million members and is worth more than $18 billion. The company is working to expand its service offerings, with plans to launch NFTs on the Ethereum blockchain in the near future. Consumers will be able to access Solana-based digital collectibles for minting, trading, and auctioning purposes, according to FTX.