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Crypto Exchange Kraken and Formula One’s Williams Racing Team Up

Crypto exchange Kraken signed a multi-year global pact with Formula One team Williams Racing, marking the trading platform’s first major sponsorship deal even as sports tie-ups with digital-asset firms become increasingly unpopular.

Formula One has become a hot ticket for crypto companies looking to splash out on high-profile marketing. Hundreds of millions of dollars were spent by companies including and OKX, and all 10 teams had at least one crypto sponsor in 2022. But a months-long collapse in prices, followed by a wave of bankruptcies and scandals, had almost halved the presence of crypto brands at the start of this season.



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