Who Is Crypto.com? Miami GP’s $700 Million Worth Grand Sponsor

Formula 1 Crypto.com Miami Grand Prix is the next race on the calendar as it’s time to go to the USA. This is a track that has been dominated by Max Verstappen for the time that it has been on the calendar. The first race in Miami was in 2022, with a 10-year contract signed for races to take place at the Miami International Autodrome.

Crypto.com is the main sponsor for the event, and with the recent boom in technology, it gives more than enough to support the event and facilitate the race. But who exactly are the people behind the company, and what are they into?

Crypto.com, the main sponsor behind the Miami Grand Prix

Crypto.com is a cryptocurrency exchange company based in Singapore that came together in 2016. With four founders behind the project, the service is a full-scale operation with over 4,000 employees working for them. The portal is extremely successful, with over 80 million users reported to be on the site in 2023.

To add to the appeal of the portal, Crypto.com hired Matt Damon as a brand ambassador and started investing in sports. They took over the Staples Center in Los Angeles and renamed it Crypto.com Arena. The arena is host to events like the Grammy Awards and several sporting events.

The Staples Center takeover was done in collaboration with soccer club Paris Saint-Germain F.C. and is on a 20-year agreement worth $700 million. 700 million is a number that Crypto.com knows quite well, as that is the estimated value of the company.

The Formula 1 Crypto.com Miami Grand Prix

Back in 2022, South Florida Motorsports announced Crypto.com as their official title partner. Integrating the brand with one of the newest tracks to join the circuit and further establish itself in the world of Motorsports. Crypto.com has its logo integrated with the Miami Grand Prix and is displayed all over the Miami International Autodrome.

The Miami Grand Prix takes place on a 5.41-kilometer circuit in Miami Gardens, and it will be the 11th venue to host an F1 race in the United States. Upon the announcement of the partnership, Jeremy Walls, Senior Vice President and Chief Revenue Officer of Hard Rock Stadium and Formula 1 Crypto.com Miami Grand Prix, spoke about the partnership.

He stated, “We are excited for our long-term title partnership with Crypto.com. We share their commitment to innovation and will apply those high standards to the fan experience at the Formula 1® Crypto.com Miami Grand Prix.

“This will be an international event, and we look forward to growing together on a worldwide scale,” he added. But this is not the first time Crypto.com has been affiliated with F1.

Crypto.com’s take on the Miami Grand Prix

When it came to stretching their hands to sponsor the Miami Grand Prix, co-founder, and CEO Kris Marszalek said, “Building on our global partnership with Formula 1, we are thrilled to be the first commercial title partner of the Formula 1 Crypto.com Miami Grand Prix in the city that is fast becoming the crypto center of the U.S.”

He added, “Technology and innovation are at the core of what we do, which strategically aligns with the sport of racing, and together we will create exciting experiences at the intersection of Web3 and F1 racing.” Looking towards the future, he believes that F1 will develop, and so will cryptocurrency. Being on the road to progress is one thing that the two entities have in common, which is visible at the Miami GP.

When is the Miami Grand Prix?

The Miami Grand Prix is planned for the first week of May. Fans can get ready to get into the month with an incredible race on the May 3–5 weekend. Just like in China, we will get to see the sprint race format being followed, allowing drivers to score as many points as possible over 24 races.

The timings for the race are as follows.

Miami (Eastern Daylight Time – EDT):

• Free Practice 1: Friday, May 3rd, 12:30 PM – 1:30 PM
• Sprint Qualifying: Saturday, May 4th, 4:30 PM – 5:14 PM
• Sprint Race: Saturday, May 4th, 12:00 PM – 12:30 PM
• Qualifying Session: Saturday, May 4th, 4:00 PM – 5:00 PM
• Grand Prix (Main Race): Sunday, May 5th, 4:00 PM – 6:00 PM

Chicago (Central Daylight Time – CDT):

• Free Practice 1: Friday, May 3rd, 11:30 AM – 12:30 PM
• Sprint Qualifying: Saturday, May 4th, 3:30 PM – 4:14 PM
• Sprint Race: Saturday, May 4th, 11:00 AM – 11:30 AM
• Qualifying Session: Saturday, May 4th, 3:00 PM – 4:00 PM
• Grand Prix (Main Race): Sunday, May 5th, 3:00 PM – 5:00 PM

Los Angeles (Pacific Daylight Time – PDT):

• Free Practice 1: Friday, May 3rd, 9:30 AM – 10:30 AM
• Sprint Qualifying: Saturday, May 4th, 1:30 PM – 2:14 PM
• Sprint Race: Saturday, May 4th, 9:00 AM – 9:30 AM
• Qualifying Session: Saturday, May 4th, 1:00 PM – 2:00 PM
• Grand Prix (Main Race): Sunday, May 5th, 1:00 PM – 3:00 PM

Denver (Mountain Daylight Time – MDT):

• Free Practice 1: Friday, May 3rd, 10:30 AM – 11:30 AM
• Sprint Qualifying: Saturday, May 4th, 2:30 PM – 3:14 PM
• Sprint Race: Saturday, May 4th, 10:00 AM – 10:30 AM
• Qualifying Session: Saturday, May 4th, 2:00 PM – 3:00 PM
• Grand Prix (Main Race): Sunday, May 5th, 2:00 PM – 4:00 PM

After you ready for the Miami Grand Prix? Who do you think will be winning the race this year? Let us know your thoughts in the comments below.