Formula 1 team Red Bull Racing has signed a three-year partnership with Singapore-based cryptocurrency exchange Bybit, worth over $50 million annually.
Red Bull Racing and Bybit by February 16 According to the statement made on parties to a multi-year sponsorship agreement he signed. While the material part of the agreement was not disclosed ReutersAccording to the news of a knowledgeable source, Bybit’s team “main team partner“The agreement that will be three years and 50 million annually with a total value of $150 million said that. Affiliate fee, cash and BIT, BitDAO’s local government token will be paid with.
Bybit for Red Bull Racing as part of the deal fan token and the team will technology incubation center it will be.
Expressing his excitement for the partnership, Red Bull Racing CEO Christian Horner;
Bybit shares our team’s passion for being at the forefront of technological innovation and setting the pace of competition. Our partnership will help the team build a deeper, inclusive and unique connection with fans around the world.
made statements.
Co-founder and CEO of Bybit Ben Zhou in his statement;
We are inspired by the relentless passion of Oracle Red Bull Racing. The team changed the race the way digital assets changed the global financial system. As a young stock market, we connect with Oracle Red Bull Racing in line with our values.
made statements.
Red Bull Racing last week software giant Oracle’of is the title sponsor had explained.
Bybit together with this agreement FTX, Crypto.com and Binance as Formula 1 It has joined other crypto money exchanges in the world.