FxWirePro- Major Crypto levels and bias summary 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Australia Releases New National AI Plan, Opts for Existing Laws to Manage Risks 
Samsung Launches Galaxy Z TriFold to Elevate Its Position in the Foldable Smartphone Market 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Apple Appoints Amar Subramanya as New Vice President of AI Amid Push to Accelerate Innovation 
ByteDance Unveils New AI Voice Assistant for ZTE Smartphones 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Nexperia Urges China Division to Resume Chip Production as Supply Risks Mount 
Norway’s Wealth Fund Backs Shareholder Push for Microsoft Human-Rights Risk Report 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Coinbase has claimed a prominent place in NBA sports sponsorship, partnering with the Golden State Warriors and stepping into the void left by FTX’s collapse. The deal signals Coinbase’s commitment to reestablishing crypto’s influence across sports after last year’s fallout.
Coinbase Leads Crypto Comeback in Sports Sponsorship
After FTX's demise, Coinbase was among the first US-based bitcoin exchanges to get back into sports sponsorships.
Coinbase announced two distinct collaborations in October: one with the Canadian Football League and the other with the NBA's Golden State Warriors and the Nike Melbourne Marathon Festival.
FTX’s Impact on Crypto Sponsorships
A non-fungible token (NFT) collection and distribution of Bitcoin to local nonprofit groups were outcomes of FTX's partnership with the Warriors prior to its collapse in November 2022, Cointelegraph shares.
Warriors CCO Mike Kitts stated that "building fandom using blockchain technology" was the goal of the collaboration with Coinbase. The NBA, G League, 2K League, Women's National Basketball Association, and the cryptocurrency exchange all have existing partnerships.
Coinbase Steps into the Void Left by FTX
Now that the transaction is official, Coinbase appears to be stepping in to sponsor the Warriors in the crypto industry, following FTX's bankruptcy in 2022. The 2022 crypto market crash and FTX's demise garnered negative press, which led to the cancellation of numerous sponsorship agreements.
In August, Crypto.com stepped up and partnered with the UEFA Champions League, catching up with the industry. Coinbase and BlockDAG, a blockchain technology company, have announced partnerships with Borussia Dortmund, a German football team.
FTX’s Star-Studded Sports Partnerships and Their Fallout
During its heyday, FTX partnered with famous athletes including Shaquille O'Neal, Naomi Osaka of tennis, and Tom Brady of football. The Miami Heat's home venue will be renamed to the FTX venue until 2040 as part of the deals.
Kitts was contacted by Cointelegraph for comment, but no response was received as of writing.
Legal Battles Over FTX Sponsorship Payments
Debtors of the FTX exchange sought to have a portion of the sponsorship payments reversed after the exchange's bankruptcy in 2022.
At the criminal trial of former FTX CEO Sam Bankman-Fried, it was revealed that the monies utilized for the agreements were allegedly engaged in the misappropriation of funds from Alameda Research, the exchange's sister firm.
