Coinbase replaced FTX as new crypto partner for Golden State Warrior

[bbc.reporter]

This is very good news because Coinbase is a very much tested exchange already. We can be 99.9% certain that they will not use customer funds to make very big leveraged trades on very illiquid markets heheheeheh.

Also, this is a very reliable signal that more inflows of fiat will return to the cryptospace because of these types of advertisements and promotions.


Brian Armstrong, CEO of Coinbase

Six-time National Basketball Association champions the Golden State Warriors announced a new partnership with Coinbase as their “official cryptocurrency platform and blockchain partner.”

This is a significant re-entry into crypto sponsorship for the team considering its history of controversies.

Coinbase, which will work with the Warriors to promote merchandise and “exclusive fan experiences,” inherits a sponsorship role left vacant after the collapse of the Warriors’ previous crypto partner, FTX.

Read in full https://www.dlnews.com/articles/markets/golden-state-warriors-replace-ftx-coinbase-crypto-partner/

[freedomgo]

CEO of coinbase is slick, it reminds me of agent47 in the movie hitman.



That’s actually good news.... This exchange has been around for a while and is probably the biggest crypto exchange in the USA. Partnering with one of the most popular teams in the NBA doesn’t just target basketball lovers in the U.S. but also reaches a global audience. The NBA has billions of fans and can draw over 10 million viewers per game in the U.S. alone, so this is a massive update that the crypto space should definitely celebrate.

[hugeblack]

The good side is that Coinbase management seems more professional and may guarantee and handle customer funds much better than FTX, but we are already seeing cryptocurrency platforms in many sporting events, starting with the English Premier League and passing through individual sports, so I think that adopting investment funds is what is required for the next stage.

[bullrun2024bro]

~

I didn't find any details on the deal, since Coinbase didn't disclose it.

Coinbase did not disclose the official terms of the deal, including its cost and duration. Neither Coinbase nor the Warriors immediately responded to Decrypt's request for comment.

Source: https://decrypt.co/288431/golden-state-warriors-coinbase-crypto-sponsor

Any infos on costs and duration? Did Golden State Warriors announce anything? (I doubt it, but maybe someone here knows)

Would be pretty interesting to know how much Coinbase is putting into these partnerships.

[Maslate]

Any infos on costs and duration? Did Golden State Warriors announce anything? (I doubt it, but maybe someone here knows)

Would be pretty interesting to know how much Coinbase is putting into these partnerships.

There hasn't been any report regarding the amount of the contract between the Warriors and CoinDesk, but CoinDesk has been partnered with the league for some time. In fact, there was a report published on June 1, 2022, about CoinDesk's partnership with the NBA.

Crypto partnerships are now the second most lucrative sponsorship category for the NBA, behind only the technology category. Among the NBA’s crypto deals this season was a league agreement with crypto trading platform Coinbase
. CNBC reported that the deal is worth $192 million over four years.

We can estimate based on the figures reported in the past. But, with the increasing exposure of crypto companies in the NBA, these companies might soon become leading partners of the league in the long run. This is beneficial for crypto as a whole, especially since the NBA has a vast audience worldwide.

[Z-tight]

The both parties did not disclose the official terms of the deal, but it is a good development after what happened with ftx. We don't know the costs and duration of the deal, but if another 'ftx' doesn't happen, lol, which i am sure it won't with Coinbase, then i expect the deal to last for a long time. This is a productive partnership for the both parties, as we continue to see more parnerships between crypto companies and sport teams.

[bbc.reporter]

The good side is that Coinbase management seems more professional and may guarantee and handle customer funds much better than FTX, but we are already seeing cryptocurrency platforms in many sporting events, starting with the English Premier League and passing through individual sports, so I think that adopting investment funds is what is required for the next stage.

I am very much aware that Coinbase is hated by some people in this community, however, when was this exchange founded? This was before 2015 also before the ICO boom, I reckon. It has a good record and a proven management team. We can certainly assume that this type of sponsorship from an exchange with a good record will be very bullish for the cryptospace.

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

[hugeblack]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

I don't think anyone will hate Coinbase as long as they believe in the importance of CEX and it is probably one of the best and most reliable options compared to many platforms. Their problem is almost in the support team and the slow response, I hope those who use it will give us an answer but it is much better than crypto.com.

[sunsilk]

Well done to the Golden State Warriors for having a new partner and for choosing Coinbase. A mistake that has been done by FTX shouldn't really be patronized and good thing that they have canceled all of the promotions that they were signed with them a few years ago.

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

Hahaha.

If these people will read what you've said, they might thought that it's another scam coming to them. Joke. 

[bbc.reporter]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

I don't think anyone will hate Coinbase as long as they believe in the importance of CEX and it is probably one of the best and most reliable options compared to many platforms. Their problem is almost in the support team and the slow response, I hope those who use it will give us an answer but it is much better than crypto.com.

Agreed. Also, I have mentioned this before, much of the complaints of the community on centralized exchanges are very much minor similar to high withdrawal fees, slow withdrawals during certain periods, other types of slowness and other complaints like the exchange did not activate a stoploss. This is very much okay because these exchanges are not perfect and if a person does not like to use a certain exchange, he can use another one or he can trade in an onchain decentralized exchange.

However as a business and similar to Binance, Coinbase has created a very good reputation on being an exchange that will not steal customer funds hheheheh.

[bullrun2024bro]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

Actually it's pretty accurate. All these gazzilion shitcoins out there need tons of exit liquidity to dump their bags.

You just need to convince the normies that (insert shitcoin here) is the new 100x and they will get millionairs in no time.

Anyway, maybe we get lucky and the terms of the deal will be leaked at some point. Coinbase is probably spending a decent sum.

[bias]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

Actually it's pretty accurate. All these gazzilion shitcoins out there need tons of exit liquidity to dump their bags.

And why to use Coinbase? Do you know how much Coinbase charges for listing any "coin"? If it's a  "dump-run" shitcoin, have other cheaper and easier liquidity exits.

You just need to convince the normies that (insert shitcoin here) is the new 100x and they will get millionairs in no time.

Coinbase doesn't need to do this, at least not anymore. Shitcoin owners/ creators and their teams need to do this. Normies have been aware of BTC success story for years now and always anticipate any shitcoin that pop-ups to have the same success as "The King".
It's always good to see such collaborations between crypto-related companies and sports organizations. Even if years ago, if you asked those teams what crypto was, they would have laughed at your face and thrown you out of the building.

[Rikafip]

Do you know how much Coinbase charges for listing any "coin"?

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

As part of our efforts to level the playing field, listing an asset on Coinbase is, and has always been, free. We don’t charge listing or application fees to asset issuers. Unlike many exchanges, we also don’t charge prerequisite asset marketing fees or require issuers to adopt Coinbase’s other services. Some have speculated otherwise, but it is simply not true.

After all, they don't even have to charge anything for listing shitcoins (as long as that shitcoin is popular and has big volume on other exchanges) as they make a nice profit from all those withdrawal and trading fees.

[bbc.reporter]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

Actually it's pretty accurate. All these gazzilion shitcoins out there need tons of exit liquidity to dump their bags.

You just need to convince the normies that (insert shitcoin here) is the new 100x and they will get millionairs in no time.

Anyway, maybe we get lucky and the terms of the deal will be leaked at some point. Coinbase is probably spending a decent sum.

If you want to know how much Coinbase has spent, you should research how much Sam and FTX has spent on their sponsorship deal with the Miami Heat. We should also compare the size of the teams and the revenues on the Golden State Warriors and the Miami Heat and create assumptions which has the bigger sponsorship deal based on size of revenues hehehe.

I speculate that the bigger deal is Coinbase's sponsoship on the Warriors. They are in San Francisco near the wealthy technology companies and their stadium might be much more expensive because of the location.

[bullrun2024bro]

If you want to know how much Coinbase has spent, you should research how much Sam and FTX has spent on their sponsorship deal with the Miami Heat. We should also compare the size of the teams and the revenues on the Golden State Warriors and the Miami Heat and create assumptions which has the bigger sponsorship deal based on size of revenues hehehe.

I speculate that the bigger deal is Coinbase's sponsoship on the Warriors. They are in San Francisco near the wealthy technology companies and their stadium might be much more expensive because of the location.

Are this the correct figures of the old FTX x Miami Heat deal?



Source: https://www.nba.com/news/miami-heat-home-arena-gets-temporary-name-after-ftx-collapse

So $135 million for 19 years, which is about $7m per year. Nothing too crazy imho, or am I missing something?

So maybe $10m per year sounds reasonable?

[Baofeng]

This sponsorship will be longterm and this will bring more people for us to dump our cryptocoins and tokens on their faces hehehehehehe. I am joking.

Actually it's pretty accurate. All these gazzilion shitcoins out there need tons of exit liquidity to dump their bags.

You just need to convince the normies that (insert shitcoin here) is the new 100x and they will get millionairs in no time.

Anyway, maybe we get lucky and the terms of the deal will be leaked at some point. Coinbase is probably spending a decent sum.

If you want to know how much Coinbase has spent, you should research how much Sam and FTX has spent on their sponsorship deal with the Miami Heat. We should also compare the size of the teams and the revenues on the Golden State Warriors and the Miami Heat and create assumptions which has the bigger sponsorship deal based on size of revenues hehehe.

Its was reported that the deal is $135 million,

The deal is valued at $135 million, with roughly $90 million to be directed to Miami-Dade County over 19 years. The county intends to use the funds to support programs that address issues such as gun violence and at-risk youth.

https://cryptonary.com/ftx-officially-signs-exclusive-partnership-with-the-miami-heat/

I speculate that the bigger deal is Coinbase's sponsoship on the Warriors. They are in San Francisco near the wealthy technology companies and their stadium might be much more expensive because of the location.

Yeah, I do agree, Warriors has won multiple championships already and they have established their teams this decade. They have the best shooter in the lead which is Steph Curry. So the deal is a win-win for both of them.

And with that,

Get in the game. Get $5 in free Bitcoin.
Sign up for Coinbase, the world’s most trusted crypto exchange, and see $5 of Bitcoin appear in your account. Easy bucket.

What can you do with your Bitcoin?

Pass the rock: Pay for goods and services instantly

Pick and roll: Trade it for other cryptocurrencies

Play D: Save it for a rainy day

https://www.coinbase.com/partner/warriors

[bullrun2024bro]

~

Thanks for the additional infos @Baofeng.

IMHO, a very good ad for normies, even if the bonus is just $5.

Coinbase targeting normies and non-crypto natives and pushes their own reputability with these sports deals. Pretty likely they're getting tons of new users, who want to try out the platform and gamble with the bonus.

Really just hope they're not overpaying for a bigger market share in the US with these partnerships.

[bias]

Do you know how much Coinbase charges for listing any "coin"?

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

As part of our efforts to level the playing field, listing an asset on Coinbase is, and has always been, free. We don’t charge listing or application fees to asset issuers. Unlike many exchanges, we also don’t charge prerequisite asset marketing fees or require issuers to adopt Coinbase’s other services. Some have speculated otherwise, but it is simply not true.

To be honest, I don't, and this is completely new news for me! Thank you for posting this and clearing it up; it seems that I was a "speculated" user.

After all, they don't even have to charge anything for listing shitcoins (as long as that shitcoin is popular and has big volume on other exchanges) as they make a nice profit from all those withdrawal and trading fees.

Still, they list "coins" that they are new without being in other exchangers first. How do they know their fan base or how attractive can be for their clients to trade them? I mean there are tons of new "coins" that they can put in and take more than they get already. Also, why the developers of those "coins" don't apply to being listed there? Especially if it's free of charge. If isn't the money for it, then for what reason don't apply to Coinbace and try to find lower-tier exchangers to be listed?
Sorry if I derail a bit from the topic but sounds a bit strange...

[bullrun2024bro]

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

Coinbase says it $0, but Justin Sun (Tron founder) just posted this a few hours ago on Twitter. Sun claims that they paid 500 million TRX worth about $80m and Coinbase demanded an additional $250 million BTC deposit.



Source: https://x.com/justinsuntron/status/1853317167946842175

The post blew up quite a low already. CZ Binance also commented:



Source: https://x.com/justinsuntron/status/1853317167946842175

Quite interested to see what Brian Armstrong will respond on Suns post, imho.

[Rikafip]

Coinbase says it $0, but Justin Sun (Tron founder) just posted this a few hours ago on Twitter. Sun claims that they paid 500 million TRX worth about $80m and Coinbase demanded an additional $250 million BTC deposit.

I wouldn't be surprised at all if Coinbase actually has some hidden fees like demanding tokens/coins for promotion (some thing that probably all exchanges are doing), but kudos to them if they actually managed to take so much money from Justin for getting TRX listed.