Cryptocurrency exchange FTX has added the Mercedes-AMG Petronas Formula One (F1) Team into its list on long partnerships. The exchange said in a press release the FTX logo will be featured on both the cars and the drivers. While the price of the deal remains undisclosed, the Mercedes-AMG team's updated skin will be unveiled during the upcoming Russian Grand Prix, which is scheduled for Sept. 26.
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The exchange's logo will also be featured on Mercedes-Benz trucks, in the garage, and on all partner logo displays in the trackside hospitality and communications facilities, the exchange said. FTX and Mercedes F1 will also collaborate on other partnerships like the integration of FTX Pay, an NFT collection. However, the details of such partnerships are yet to be announced.
The move follows FTX's recent partnership with Kevin O'Leary. The exchange said the Canadian businessman will be taking an equity stake in both FTX and West Realm Shires Services, an operator of FTX. He will also be paid in crypto to serve as an ambassador and spokesperson for FTX.
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