Crypto companies have taken over Formula 1 in a way never seen before. Almost every team has a crypto sponsor as the 2025 Formula 1 season begins in Melbourne. Crypto.com, a major crypto exchange , is one of Formula 1’s main partners, along with brands like Qatar Airways, DHL, and LVMH. However, it is not just F1 itself. Many racing teams have also made deals with crypto companies, proving how deeply digital assets have integrated into the sports world. Crypto’s Growing Presence in Formula 1 Crypto companies are investing heavily in Formula 1 sponsorship. After dropping Bybit, Red Bull Racing has partnered with Mysten Labs and Gate.io, while McLaren continued its sponsorship with OKX. Alpine has deals with Binance and ApeCoin, as well as Stake and CoinPayments back Kick Sauber. Racing Bull has partnered with Cash App, Haas with MoneyGram, and Williams with Kraken, a prominent crypto asset. While most teams have jumped on the crypto trend, two companies, Mercedes and Ferrari, remain without any digital asset sponsors. Mercedes is still recovering from its failed partnership with FTX. Ferrari ended its sponsorship with Velas, a blockchain company whose token has lost almost all its value. In 2022, Velas was worth over $1.2 billion, but now it is only $13 million. The Risks of Crypto Sponsorship in Sports Formula 1 is welcoming crypto sponsorships, but past deals show they don’t always last. The biggest example is FTX, which went bankrupt months after airing a flashy Super Bowl ad in 2022. The ad, featuring comedian Larry David, told people to trust FTX as the “next big thing” in finance. Shortly after, the company collapsed, and its founder, Sam Bankman-Fried, was accused of fraud. This caused mistrust in the crypto industry, leaving sports leagues that partnered with FTX in colossal debt. Many teams started cutting ties with crypto brands. Will Formula 1’s Crypto Bet Pay Off? Formula 1 is taking the same risk as the NBA with crypto sponsors. These deals could make digital assets more popular if the market stays strong. If another big crash happens, F1 could face the same problems as other sports leagues. Right now, crypto companies are investing heavily in Formula 1. They hope the sport’s popularity will help them grow. The post Crypto Firms Take Over Formula 1: Here’s How appeared first on TheCoinrise.com .
