Sauber F1 Team and Stake Crypto Casino Ink Two-Year Partnership Deal

As part of the agreement, the Swiss racing team, formerly known as Alfa Romeo, has now rebranded to Stake F1 Team Kick Sauber.

sevval02/01/20241 Mins read413

Sauber F1 Team And Stake Crypto Casino Ink Two-Year Partnership Deal

In a significant development, the Formula 1 team Sauber has officially entered into a substantial two-year title partnership agreement with the crypto casino and sports betting platform, Stake, for the 2024 season. This strategic alliance has led to the transformation of the Swiss racing team, previously known under the Alfa Romeo name, into Stake F1 Team Kick Sauber. Notably, the team boasts accomplished drivers Valtteri Bottas and Zhou Guanyu.

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Sauber F1 Team and Stake Crypto Casino Ink Two-Year Partnership Deal

Alessandro Alunni Bravi, the Team Representative, expressed enthusiasm about the partnership, stating, “Last season represented the start of Stake’s journey in Formula 1, and the brand’s new role headlining Stake F1 Team represents the natural and exciting next step on this path.” The move underscores Stake’s deepening involvement in the Formula 1 landscape, building upon its initial foray into the sport in the preceding season.

Crypto Casino Stake Lands Two-Year Partnership Agreement with Sauber F1 Team

Formula 1 has increasingly become a prominent platform for blockchain and cryptocurrency sponsorships, featuring notable names such as Tezos, OKX, Binance, OpenSea, ByBit, and others. However, the recent bear market prompted some companies to reconsider their involvement in the space.

Stake, the crypto casino and sports betting platform, made headlines earlier when it faced a substantial setback, losing $41 million in a security breach involving a private key exploit targeting one of its wallets in September 2023. The FBI subsequently attributed the attack to the North Korean hacking group Lazarus in an official report. Despite this setback, Stake’s partnership with Sauber F1 Team Kick Sauber underscores its commitment to leveraging the popularity and reach of Formula 1 for brand promotion and engagement in the crypto space.

Sources:theblock

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.