Crypto Influence on F1 Grows as Industry Expands its Footprint

The 2025 Formula One (F1) season roared to life in Australia as McLaren driver Lando Norris pipped reigning champion Max Verstappen to top spot.

Aside from the thrilling battles between the drivers, the increased prevalence of a new wave of sponsors in the prestigious series also caught the eye.

Half of the F1 teams now have crypto sponsors, with companies such as Binance, OKX, Crypto.com and ApeCoin ploughing significant resources into F1 to promote their products.

Crypto Sponsorships in F1

Crypto sponsors are not new in F1. They have become key players in the commercial ecosystem, providing crucial revenue for the series.

Take Crypto.com for example. They have been around since 2021 when they started sponsoring the Aston Martin team – a partnership they renewed in December. 

McLaren are sponsored by OKX as they bid to win their first Drivers’ Championship since 2008. As Norris stood on the podium celebrating his win in Australia, their brand name could be seen emblazoned on his orange gear.

Norris was the favourite to win the race with online bookmakers, and his victory provided extensive global coverage of the OKX brand before, during and after the race.

Many punters wagered on Norris using crypto on the best betting app in Australia, further highlighting the influence the blockchain-based technology is having on major sports.

Elsewhere, Red Bull Racing has partnered with Gate.io, Aston Martin has links with Coinbase, while Alpine is backed by Binance and ApeCoin. Crypto sponsors are here to stay.

Sponsoring F1 is a brilliant move by crypto firms as it gives them access to affluent and tech-savvy F1 fans. They use F1 platforms to gain global exposure and build trust and legitimacy. 

Intriguingly, the start of the 2025 F1 season had a direct impact on crypto token prices, with several firms reporting an increase. The Bitcoin market also reacted positively to the Australian GP.

Crypto Goes Beyond F1

Companies in the crypto sector have also worked their way into other sports, securing lucrative sponsorship deals with various franchises and organisations.

Crypto sponsorship deals in the National Football League (NFL) have risen from 18 in 2024 to 22 this year, and it has been a similar story in soccer.

Tether took out a minority stake in Serie A giants Juventus worth $50 million, and XBO.com became the official sponsor of the Argentine national team – the reigning World Cup champions.

Sportsbet.io has secured naming rights to the Players’ Championship in snooker. The popularity of Bitcoin has spurred this sponsorship drive, helping crypto platforms gain mainstream acceptance.

Crypto in the F1 Sponsorship Hierarchy

Blue-chip organisations were traditionally sponsors of F1 teams. However, the F1 sponsorship roster includes a new demography of organisations under Liberty Media.

Crypto has carved out a lucrative niche for itself. Crypto.com boasts sponsorship deals on par with some of the older F1 backers.

Binance and OKX use their F1 ties to engage fans with non-fungible tokens, fan tokens and other exciting blockchain-powered experiences.

F1 is not opposed to these initiatives that help to keep fans constantly engaged with the sport digitally. Teams and sponsors have been exploring blockchain-based fan engagement strategies, such as tokenised rewards, exclusive merchandise and virtual meet-and-greet experiences. 

There will be more innovative programs that combine digital assets and the fan love for F1 in the future. There has already been talks about using them for ticketing and merchandising.

The Risks and Rewards of Crypto Sponsorships in F1

Detractors will immediately point to the ill-fated McLaren partnership with cryptocurrency exchange FTX. The crypto company went bankrupt in 2022 and could not fulfil its financial obligations. 

Critics worry that such an embarrassing situation might repeat itself, but the truth is that the crypto space has evolved tremendously over the past three years.

Stricter regulations guide the operations of crypto exchanges worldwide, and people have a better understand of digital assets now.

F1 teams have become more adept at discerning which companies to partner with. Most of their crypto partners are well-established players in the digital asset space.

The crypto ecosystem was also relatively new and was bound to encounter a few hiccups in a bid to establish itself. With experience, companies in the industry have learnt to raise their standards to impress a globally respected brand such as F1.

The series has always been a space for innovation, on and off the track. The rise of crypto sponsorships is a natural extension of the sport’s forward-thinking approach.

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