Crypto brands have increased their spending on sports sponsorships by 20% year-on-year, reaching US$565 million, according to the latest Marketplace report from sports marketing agency SportQuake.
Crypto.com remains the largest spender in the sector, with major partnerships in the UEFA Champions League and Formula 1 pushing its total investment to US$213 million.
Coinbase and OKX follow as the next biggest spenders, while Gate.io entered the top ranks with a US$53 million spend.
The latter notably secured its first Formula 1 sponsorship with Red Bull and a sleeve partnership with UEFA Champions League finalists Inter Milan.
Football continues to be the most favoured sport among crypto exchanges, accounting for 20 of the 34 new sponsorship deals recorded.
Meanwhile, investment in Formula 1 has also grown, reaching an annual spend of US$174 million. Six exchanges are now involved in F1 sponsorships, compared to four the previous year.
The total annual spend is now just US$120 million short of the 2022/23 peak of US$685 million.
Projections suggest that spending for the 2025/26 season could return to these levels, driven by increased commitments from existing players and the entry of new sponsors.
Matt House, CEO of SportQuake, said:
“At a brand level, Crypto.com, Gate.io and Kraken stand out. Crypto.com consolidated their category leadership by adding the Champions League to its beautifully curated sports sponsorship portfolio. Gate.io’s super aggressive entry into sports went from $0–$53 million in 12 months and Kraken added Tottenham Hotspur, Atletico Madrid and RB Leipzig sleeve sponsorships to their Williams F1 deal.”
Looking ahead, SportQuake notes that crypto exchanges are likely to become significant front-of-shirt sponsors in football, particularly as the Premier League’s upcoming ban on betting companies occupying this space comes into effect in the 2026/27 season.
Featured image credit: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik
