BingX Names Scuderia Ferrari HP Its First Crypto Exchange Partner in Multi-Year Deal
BingX, a global crypto exchange and Web3-AI company founded in 2018 with over 40 million users, has signed a multi-year partnership with Scuderia Ferrari HP. This marks BingX’s first motorsport collaboration and Scuderia Ferrari HP’s first-ever deal with a crypto exchange. The agreement will place BingX across Scuderia Ferrari HP events, digital platforms, global content and exclusive fan experiences as the partnership develops. Company executives framed the alliance as part of BingX’s global expansion and brand-building strategy; Daniel Lai, BingX Chief Business Officer, emphasized shared values of precision and ambition. Lorenzo Giorgetti, Scuderia Ferrari HP Chief Racing Revenue Officer, said the deal aligns with the team’s interest in emerging technologies ahead of the 2026 FIA regulations. BingX offers spot, derivatives and copy-trading services and has previously been a principal partner of Chelsea FC since 2024. The press release positions the collaboration as a branding and user-engagement play rather than a product or token launch.
Neutral
This partnership is primarily a marketing and brand-alignment move rather than an operational or product-level development (no token launch, new trading feature, or regulatory change). Historically, sponsorship deals between crypto firms and sports teams raise brand awareness and can drive user acquisition over time, but they seldom cause immediate price moves across major crypto markets. Short-term effects: modest positive sentiment for BingX as a platform (potentially more sign-ups) but unlikely to materially affect major coin prices or derivatives volumes. Long-term effects: sustained brand exposure could increase BingX’s market share in retail trading, boosting platform liquidity and order flow gradually; if the partnership later enables co-branded products (NFTs, fan tokens, promotions), that could produce short-lived trading interest in specific tokens or platform-native assets. Comparable past events (crypto exchanges sponsoring sports teams) produced marketing uplift for exchanges and occasional spikes in platform activity, but negligible systemic market impact. Therefore the overall market impact is neutral, with potential mild bullishness specific to BingX user metrics rather than broad crypto prices.