According to the official announcement, the details of the partnership includes that Curry will receive an equity stake in FTX and become FTX global ambassador in a bid to increase the company’s popularity among retail investors.
In addition, collaboration with Curry’s non-profit foundation, Eat. Learn. Play. FTX will launch several charity initiatives under the new deal.
Speaking in a comment, Curry said:
“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users. FTX is like-minded when it comes to giving back to the community in meaningful ways and I can’t wait to see what we can achieve together.”
Curry Seeks for Advice
The three-time NBA champion also noted that the partnership signifies his very first major investment in the crypto space.
It was reported last month that Curry joined the NFT bandwagon by purchasing a rare Bored Ape digital art for $180,000.
Following his partnership with FTX, the Golden State Warriors Point Guard went to Twitter asking his fans for pointers on how to go about his crypto journey.
“Just getting started in the crypto game…y’all got any advice??” he asked.
While many crypto supporters were quick to dish out advice to Curry, asking him to buy one crypto or the other, MicroStrategy’s CEO Michael Saylor replied to the NBA star, asking him to send a direct message if he needed it.
Steph, I spent more than a thousand hours considering this question and chose bitcoin. So far, I have purchased more than $3 billion in BTC because I think it’s the future of digital property. I have posted tons of free #bitcoin education on https://t.co/kZl3k7Tm4h (or DM me).
— Michael Saylor⚡️ (@michael_saylor) September 7, 2021
FTX CEO: Curry is a Seamless Fit
Sam Bankman-Fried, CEO of FTX, said that Curry’s tireless commitment to charity and his “ferocious work ethic to become in any arena he steps foot in” are the reasons why the superstar is a “seamless fit” for the exchange.
“Whether it is basketball, investing or business, he perfectly aligns with FTX’s core values. I look forward to working together with Stephen to create a positive impact for those who need it most in the world,” Bankman-Fried added.
In recent months, FTX has announced several partnership deals with top sports stars and entrepreneurs. Earlier in August, the exchange had entered into a partnership with prominent TV personality Kevin O’Leary.
Stephen Curry is the latest high-profile athlete to join the long list of high-ranking FTX partners, including Super Bowl champion Tom Brady, and his wife, Giselle Bündchen.
Currently, the company is valued at over $18 billion following a $900 million cash injection from its Series B funding round in July, with notable investment from top institutional investors like Softbank, Sequoia Capital, and Thoma Bravo.