After recently seeking advice on how to navigate his crypto journey, Steph Curry, an NBA All-Star, has gone from being a crypto novice to a global ambassador for crypto exchange FTX in less than a month.
The Golden State Warriors point guard has agreed to serve as a “global ambassador” for FTX Trading Limited, the company that operates the FTX worldwide crypto exchange and the FTX US exchange.
Curry will gain a stake in the company as part of the arrangement, and FTX will make annual payments to Curry and his wife’s Eat.Learn.Play foundation.
Curry, no longer baffled, said in a press statement, “I’m pleased to join with a firm that demystifies the crypto realm and reduces the intimidation factor for first-time consumers.”
He’ll “extend the reach of the FTX brand and extol the potential of cryptocurrencies to new audiences throughout the world” as an ambassador.
Welcome to the FTX Team, NBA Superstar Stephen Curry! 🏀
We’re excited to announce he’s become FTX Global Ambassador and a shareholder. Though, who better to announce it than @StephenCurry30 himself?! pic.twitter.com/o7Yco7oB8s
— FTX – Built By Traders, For Traders (@FTX_Official) September 7, 2021
Curry isn’t a complete bitcoin rookie. Late last month, he purchased a Bored Ape Yacht Club NFT—digital assets depicting drawn simians—for 55 ETH (then worth $180,000). Following that, admirers flooded his Ethereum wallet with more NFTs.
Curry appeared to be giving the social media equivalent of a pump fake when he wrote: “Just getting started in the crypto game…y’all got any advice??”
Over 18,000 people commented on the tweet, including Bitcoin maximalist Michael Saylor and crypto minimalist Frances Coppola.
Curry’s addition to FTX’s roster makes sense given the company’s sports marketing strategy. In May, the two sides agreed to a $135 million, 19-year naming rights deal for the Miami Heat arena.
In June, it added Tom Brady of the Tampa Bay Buccaneers as a brand ambassador. The exchange had pledged to donate 1% of net fees to charity, and the FTX Foundation claims to have given the equivalent of $3.75 million to charity so far, including $50,000 to Brady’s TB12 Foundation. Another $12.7 million is said to have been set aside from user donations and fees.
“It was evident after meeting and speaking with Stephen that he is a seamless fit for FTX,” FTX CEO Sam Bankman-Fried stated, praising Curry’s charitable efforts and investing IQ.
The derivatives and spot exchange has risen in the ranks this year, becoming one of the largest by volume in the globe, thanks to FTX’s emphasis on sponsorships and eye-popping deals.
Its FTX US platform, on the other hand, lags well behind American rivals like Coinbase and Kraken. Steph’s possession of the ball, on the other hand, might be enough to spark a second-half comeback.