FTX Inks Deal with MLB Superstar Shohei Ohtani

FTX, the cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, announced on Tuesday a long-term partnership with MLB Superstar Shohei Ohtani. According to the press release shared with Finance Magnates, Ohtani will serve as FTX’s ambassador and will be compensated in both equity and Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

“As a company that is revolutionizing the digital asset ecosystem and greater financial landscape, we are continuously looking for partners that share our commitment to being a leader in their respective space. Shohei has become a transcendent player in baseball in just a short period of time, and this, combined with his support of digital assets, made it an easy choice to enter into a partnership with him. Off the field, Shohei has a passion for bettering the global community, something both he and FTX share, and we’re excited to partner with Shohei on various charitable initiatives, particularly with a focus on helping animals,” Sam Bankman-Fried, Founder and CEO of FTX, commented.

In the 88-year history of the Midsummer Classic, Ohtani became the first player to be an All-Star pitcher and hitter. Additionally, he served as the American League’s manager-selected starting pitcher and fan-elected starting designated hitter in the All-Star Game. In less than 24 hours, he became the first pitcher to participate in the Home Run Derby in its 36-year history, FTX explained. Nowadays, FTX is a partner of Major League Baseball as ‘official crypto exchange partner’.

Recent FTX Funding Round

Recently, FTX saw a massive jump in its valuation after the latest Series B-1 investment round. It has raised $420 million in the recent funding round and received a valuation of $25 billion.

In H1 of 2021, global cryptocurrency users increased by more than 100%. With growing adoption, leading players in the crypto ecosystem have seen a sharp increase in their valuations. The $25 billion valuation makes FTX one of the most valuable cryptocurrency exchanges in the world.