The Warriors were said to have previously inked a sponsorship deal with FTX, a cryptocurrency exchange, reportedly worth $10 million. But as an NBA season and post-season awash in cryptocurrency sponsorships came to a close this week, the crypto industry was confronting new challenges. Cryptocurrency brands spent more than $130 million on NBA sponsorship this season, up from less than $2 million last season, according to the firm. In just the last year, crypto jumped to the second highest spending sector in NBA sponsorships, up from 43rd, according to IEGa sports partnerships consultancy. Cryptocurrency brands spent more than $130 million on NBA sponsorship this season, up from less than $2 million last season, according to the firm.

Source: CNN June 18, 2022 00:39 UTC