Coinbase Will Sponsor an NBA Team

After the downfall of FTX, Coinbase has stepped in to become one of the first exchanges to venture into sports sponsorships once again.

In October, Coinbase announced partnerships with various sports organizations, including the Canadian Football League, the Golden State Warriors, and the Nike Melbourne Marathon Festival.

FTX had previously partnered with the Warriors in a deal that involved the creation and distribution of non-fungible tokens (NFTs) and donations of Bitcoin to local charities.

However, with FTX’s collapse in November 2022, Coinbase has taken on this role and aims to use blockchain technology to engage and attract fans.