Skip to Content

Red Bull Formula One team signs cryptocurrency sponsor


LONDON (AP) — Red Bull’s Formula One team has signed what it described as the most lucrative annual cryptocurrency sponsorship in sports. The deal with Bybit is worth more than $100 million across three years for the team that is home to reigning world champion Max Verstappen. Red Bull says Bybit will work with the team on “crypto-literacy” by educating on the digital economy. The unregulated cryptocurrency exchange has been running for almost four years. The price of crypto is prone to high volatility, sparking concerns about the risks of investing.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press


KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content