The BitMEX logo will appear on the sleeves of AC Milan's official match kits as part of the deal between the two entities
Cryptocurrency derivative exchange BitMEX announced yesterday that it has partnered with Italian football team AC Milan. While the length of the deal was not specified, BitMEX revealed that the exchange's logo would be displayed on AC Milan's official match kits moving forward.
In a press release yesterday, AC Milan stated that it is excited to partner with the BitMEX cryptocurrency exchange. "The BitMEX brand will feature on the sleeve of both the men's and women's team playing kit in all competitions, including the UEFA Champions League, and on the sleeve of the Rossoneri's eSports team, AQM – marking another first for the Club," the football club wrote
The partnership with AC Milan is the first of its kind for BitMEX, and the exchange will look to venture further into the world of football and eSports. BitMEX CEO Alexander Höptner stated that the partnership with AC Milan is part of the exchange's desire to start a new chapter.
The exchange is increasing its efforts towards brand awareness and developing mainstream understanding of cryptocurrencies, he added. The deal is a breath of fresh air for BitMEX as the exchange has been caught in some negative news involving regulators in recent months.
BitMEX also announced yesterday that it had reached a settlement agreement with the United States Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN). However, the case against its former executives, including Arthur Hayes, still stands.
The deal with AC Milan makes BitMEX the latest cryptocurrency exchange to partner with a sports entity. FTX is the leading crypto exchange in terms of partnerships with sports teams and leagues. Over the past few months, FTX has partnered with esports team TSM, the Miami Heat basketball team and the League of Legends Championship Series.
Crypto.com also partnered with Formula 1, UFC, Lega Serie A and National Hockey League team the Montreal Canadiens.