FTX paying $17.5 million in crypto for naming rights to Cal Memorial Stadium

Isabelle Lee, Markets Insider: The iconic California Memorial Stadium is getting a new name beginning in September: FTX Field.

FTX.US, an affiliate of Sam Bankman-Fried’s FTX, is paying $17.5 million for the naming rights to the California university stadium in what is considered to be the first-ever collegiate cryptocurrency naming rights sponsorship.

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FTX is paying $17.5 million in crypto for the naming rights to Cal Memorial Stadium for 10 years

This 10-year partnership, to be paid entirely in cryptocurrency, is the latest in a string of sports partnerships FTX has inked this year.

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