Cade Cunningham Signs Cryptocurrency Endorsement Deal
BREAKING: Cade Cunningham, the 1st overall pick in the 2021 NBA Draft, has signed an exclusive, multi-year partnership with crypto company @BlockFi.
— Joe Pompliano (@JoePompliano) August 19, 2021
As part of the deal, Cunningham is being paid 100% of his signing bonus in Bitcoin. pic.twitter.com/UKsWZYajgB
Cunningham had the following to say about the deal:
I'm excited to partner with BlockFi to really diversify my portfolio and manage my crypto assets; especially as they become more important in personal finance. For me, it's not just about setting up myself for financial success long-term but also to educate future generations on financial wellness.
Cunningham is following in the footsteps of NFL first overall draft pick Trevor Lawrence, who signed a deal with cryptocurrency company Blockfolio. Cunningham and Lawrence are in good company with a number of other athletes such as Saquon Barkley, who recently announced that he would be paid 100% of his $10M annual endorsement income in Bitcoin, while Tom Brady signed a deal with crypto exchange FTX in June where he received equity in the company and a signing bonus paid in crypto. Lionel Messi accepted part of his PSG “welcome package” in fan tokens, as his new club attempts to build a new digital fan community.
BREAKING: Trevor Lawrence has signed an endorsement deal with cryptocurrency portfolio management app Blockfolio.
— Joe Pompliano (@JoePompliano) April 26, 2021
The interesting part?
He accepted his "signing bonus" exclusively in crypto, which is already worth more today than when it was deposited on Friday.
(h/t @nytimes) pic.twitter.com/hgQnDV6j7p
Photo Credit: Raj Mehta-USA TODAY Sports
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