$100K in Bitcoin Up for Grabs as FTX's MLB Team-Up Advances

Crypto exchange FTX's sponsorship deal with Major League Baseball (MLB) has advanced to giving away free bitcoin. 

FTX and MLB struck a baseball deal in June that involves FTX branding appearing on all umpire uniforms starting at the All-Star Game in Denver on July 13.

Now, in a new twist, the two firms have announced a competition called “MLB Moonblasts Pick 'Em.” The winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run during the rest of the season. The competition ends Saturday at 2:00 p.m. ET and is open to U.S. residents only.

In March, FTX secured the naming rights to the home arena of National Basketball Association team Miami Heat for a reported $135 million.

FTX's MLB sponsorship and their bitcoin giveaway is another sign of the increasing integration of the cryptocurrency industry into mainstream sports. 

Earlier Saturday, FTX CEO Sam Bankman-Fried tweeted that the exchange has become the first cryptocurrency derivatives exchange to receive a U.S. GAAP audit.