The Football League has become the latest sporting organization to partner with the exchange, which is aiming to reach a broader audience through the sports industry
Crypto.com has agreed to become the official exchange partner of the Australian Football League (AFL). The women’s competition (AFLW) is also included in the new partnership, part of the exchange’s strategy to gain wider public acceptance.
Under the deal, the exchange will receive exclusive naming rights for the “Crypto.com AFL Score Review” for all games in both the first and final series.
According to a press release shared with FXEMPIRE, Crypto.com will join Toyota and the National Australia Bank (NAB) as sponsors of both leagues under a deal worth an estimated $25 million over the next five years. This mega-deal represents a significant increase from the AFL’s existing $18.5 million agreement with Toyota, last renewed in 2019 for four years.
Kylie Rogers, the AFL’s Chief Commercial Officer, said she was proud to be part of the innovative initiative.
“The AFL is proud to be the first Australian sporting league and the first elite women’s competition in the world to work alongside an organization that shares our passion for advancing the future of elite sport and technology,” she said.
Crypto.com CEO Kris Marszalek echoed Rogers’ sentiments, noting that both leagues provide a strong platform for the exchange to grow its presence in Australia.
“The AFL and the AFLW are perfect platforms for us to engage with Australian sport and culture. It is by far the country’s most popular spectator sport with a history spanning more than 150 years — a rich story that uniquely brings Australians together in a way that truly inspires us,” he said.
Crypto.com has been active in a string of sponsorships, particularly in the United States, where it closed several major deals last year. Notably, in November the exchange secured naming rights for Crypto.com Arena (formerly Staples Center) in a blockbuster agreement reportedly worth $700 million over the next two decades.
Retirement savings are prime targets for crypto scams, warns ASIC
The Australian Securities & Investments Commission (ASIC) has urged Australians holding money in retirement funds to seek financial advice before investing in unregulated crypto products. The warning follows a wave of targeted marketing that has sought to reach self-managed super fund (SMSF) trustees via social media platforms.
“Do not rely on social media adverts or online contacts from people promoting an ‘investment opportunity’,” the financial regulator warned in its message.
Because victims of retirement fund investment scams are not eligible for compensation, ASIC has previously run public awareness campaigns encouraging SMSF trustees to exercise caution. The regulator has also taken action against unlicensed financial services suspected of involvement in crypto-related fraud.
In December, the Australian Federal Police reported that Australians lost $100 million to crypto scams between January and November. Authorities cautioned that the true figure could be much higher, as many scams go unreported and therefore are not included in official tallies.