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Bybit named Principal Team Partner of Red Bull Racing; Alpine F1 agrees Binance deal

Credit: HK Strategies

Formula 1’s Red Bull Racing has signed cryptocurrency exchange Bybit as a sponsor.

The team claims the multi-year deal is the largest sponsorship agreement between a sports property and a cryptocurrency exchange to date in annual value terms, with SportBusiness sources indicating is worth $50m (€43.9m) per season.

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