Crypto.com has positioned itself at the forefront of major fan bases in the Formula 1 (F1) and Ultimate Fighting Championship (UFC) worlds through lucrative sponsorship deals, driving the cryptocurrency exchange’s expansion.
In a comprehensive interview with Cointelegraph on February 9, Eric Anziani, president and chief operating officer of Crypto.com, discussed the company’s high-profile advertising ventures with F1 and the UFC, along with its naming rights agreement for the Crypto.com Arena in downtown Los Angeles:
“We’ve been fortunate to find these amazing partners. F1, the UFC, working in LA with the Crypto.com Arena and AEG.”
Anziani highlighted that market surveys conducted by the exchange demonstrate its global awareness ranking highly in brand recognition among retail cryptocurrency users.
“For a brand to be established in just a couple of years is very challenging to sustain.
Maintaining top-of-mind awareness for users is very challenging, and I think those investments have clearly paid off,” Anziani said.
ESPN estimates that the 2023 Formula 1 season attracted an average of 1.11 million viewers per race in the United States alone.
Meanwhile, F1’s 2022 viewership figures reveal an audience of over one billion people across the race calendar.
The UFC also boasts a global audience, with fight nights over the past two years drawing similar numbers to a single F1 race.
Major fights, such as Khabib Nurmagomedov vs. Conor McGregor, sold 2.4 million pay-per-view tickets.
Crypto.com’s logo prominently features on UFC octagons, securing prime advertising space in what is recognised as one of the world’s fastest-growing sports.
“We have also witnessed numerous activations with those brands being integrated, relevant to the fans and participants.
It has been tremendous in terms of bringing people into the space through these partnerships,” Anziani said.
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These partnerships have contributed to Crypto.com’s expanding user base, with previous estimates indicating 80 million users in 2023.
Anziani informed Cointelegraph that the exchange is nearing 100 million users in 2024.
As its influence expands, Anziani noted that the exchange is also targeting specialist services for high-volume, high-net-worth traders.
In February 2024, the company launched Crypto.com Prime, an exclusive programme requiring a $1 million deposit for membership activation.
“When I want to execute a large trade, I need minimal fees and deep liquidity. So we aggregated all the books and provided them with two basis points,” Anziani explained.
The programme offers institutional-grade custody, $1 million account protection, uncapped fiat transfers, and individual account managers for high-net-worth traders focusing on wealth accumulation and inheritance and tax planning.
Regarding what sets exchanges apart in terms of business models and offerings as more of the global population engages with cryptocurrencies, Anziani offered three key considerations driving user preferences:
“It’s a great question but a complex one. First of all, regardless of your profile as a user, you want a platform where your funds are secure, and you can trust the platform.”
Anziani noted that some users prioritise convenient cryptocurrency access, while others, particularly high-value traders, value API connectivity, exchange liquidity, and fee structures.
“I believe compliance and security form the foundation that everyone looks for as a starting point,” Anziani added, emphasising its significance following ecosystem failures like FTX.
Crypto.com is one of several cryptocurrency exchanges and businesses tapping into the global audiences reached by major sports.
OKX sponsors English Premier League team Manchester City and F1 team McLaren.
Cryptocurrency betting platform Stake joined the F1 scene in 2024, securing a two-year naming rights deal with the Sauber F1 team.
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