Last week Steph Curry became the latest celebrity to tank the crypto market after Tom Brady's laser eyes picture tanked the market earlier in May. The culprit? Curry's tweet: “Just getting started in the crypto game...y'all got any advice??”
Curry recently entered into a partnership with the fast-growing digital-asset exchange FTX and said he wants to use cryptocurrencies as a socially conscious platform.
FTX, which was valued at $18 billion in its most recent round of fundraising, has announced a number of sports-related deals and partnerships in recent months.
The Cal Golden Bears signed a 10-year, $17.5 million naming rights deal with the company just last month. In addition, the NBA’s Miami Heat play in FTX Arena and the company is also the official crypto exchange of Major League Baseball.
Steph Curry added: "And right now, it’s just about education... And understand there is a big community right now that is excited about what this will mean for democratizing financial institutions and how we do things. So it’s about educating the next generation."
Short Squeez Takeaway: With crypto reclaiming the $2 trillion market cap in August, it is no surprise that more celebrities are getting involved (and trying to make money from it). Every other day we have some celebrity pumping some random new coin. We can get behind Steph Curry changing his profile picture to that of the Bored Ape. (no more laser eyes pls)