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As other crypto exchanges target sports marketing, Binance is losing ground


In the last few years, sports marketing has been a go-to option for crypto businesses. From UFC fighters wearing cry[ merchandise to NBA players promoting cryptocurrencies, cryptocurrency has a strong presence in sports. Many even link the competitiveness of sports betting to cryptocurrency, but they remain very different sectors with different rule sets. While the race for marketing in sports arenas is becoming more intense, Binance seems to be losing ground to competitors like Coinbase and

Binance’s struggle started a few months back when many countries launched an investigation into their offerings and operations. From the UK to Singapore to Thailand, governments were actively investigating all loopholes in Binance’s policies. While the crackdowns are now a thing of the past, its effect is still felt by Binance – the largest cryptocurrency exchange in the world by volume.

On the other hand, rival companies like Coinbase, FTX, and are gaining momentum. After buying naming rights for the Staples Center, is now clearly ahead of Biance in terms of sports marketing. This recent deal from gives Binance a serious pushback and makes the clear winner for now. The $700 million deal is widely promoted as the single largest deal between sporting event managers and cryptocurrency exchanges. The relationship between cryptocurrency and sports marketing will become stronger with such deals. It also puts a notch above its competition, mainly Binance. Notable cryptocurrency investor Mark Cuban lauded the agreement and called it one of the most important moments from the crypto landscape in the United States of America.

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