Crypto companies are increasingly integrating into the world of Formula 1. In the 2025 season, almost every racing car is sponsored by digital assets.
Crypto Companies' Expansion in Formula 1
At the start of the 2025 Formula 1 season, many teams have secured contracts with crypto companies. Leading crypto brands like Crypto.com have become major partners for racing teams, competing alongside giants like Qatar Airways, DHL, and LVMH. Red Bull Racing previously partnered with Bybit, but has switched to Mysten Labs and Gate.io. McLaren continued its partnership with OKX, while Alpine has deals with Binance and ApeCoin. Sauber team has backing from Stake and CoinPayments, Racing Bull partnered with Cash App, Haas with MoneyGram, and Williams with Kraken. However, Mercedes and Ferrari remain without digital partners: Mercedes is still recovering from its failed FTX partnership, while Ferrari ended its sponsorship with Velas after their token depreciated.
Risks of Crypto Sponsorship in Sports
Formula 1 is embracing crypto sponsorship, but the success of such deals is not guaranteed. A case in point is FTX, which went bankrupt after a Super Bowl 2022 ad campaign featuring Larry David. Following FTX's collapse, its founder Sam Bankman-Fried faced fraud charges, leaving the sports league dealing with financial fallout.
Can Formula 1 Benefit from Crypto Deals?
Formula 1 is taking a risk similar to the NBA with crypto sponsors. If the market remains stable, it could strengthen the presence of digital assets. However, a major market downturn could present challenges similar to those other sports leagues have faced. For now, crypto companies are heavily investing in Formula 1, hoping to leverage its popularity.
The future of crypto sponsorship in Formula 1 remains uncertain. It depends largely on market stability and the experiences of past deals. The success or failure of crypto collaboration will significantly impact both the sports and tech industries.
