FTX has broken the rules again, partnering with the Chess Championship to launch the FTX Crypto Cup with a $100,000 bitcoin prize

Original article by BlockTempo

Chess is one of the four major chess games, and it has become more and more popular after the broadcast of the American TV series "The Queen's Chess". The Meltwater Tournament of Chess Champions announced its latest events yesterday (17), including the current world champion Magnus Carlsen and chess grandmaster Fabiano Caruana. The most notable thing for the community is that within the total prize money of $320,000, there is the equivalent of $100,000 in Bitcoins. What happened?

Chess Tournament and Bitcoin (BTC), the reason for this particular combination is that FTX exchange and publicly traded chess company Play Magnus Group have reached a partnership agreement to launch an additional tournament for the Meltwater Champions Chess Tour: FTX Crypto Cup (FTX Crypto Cup).

Following this partnership, FTX Exchange became the official cryptocurrency exchange partner of the Meltwater Champion Chess Tour and became the title sponsor of the FTX CryptoCup.

According to theThe web siteThe FTX Encrypto Cup will be held on May 23 solstice on May 31. In addition to the $220,000 prize money of the tournament itself, FTX has added "$100,000 in Bitcoin". The match will be the last professional tournament of the tour, which will include reigning world champion Magnus Carlsen and chess grandmaster Fabiano Caruana.

It's worth noting that Carlson, who is also the founder of Play Magnus Group, is excited about the FTX deal for the current world champion.

He said: "I am a sports fan and NBA fan, and I am delighted that FTX has partnered with the Chess Championship Tour to continue its commitment to the sport.

Andreas Thome, CEO of Play Magnus Group, added: This is an important moment for Play Magnus Group, as we, like chess players around the world, have been following the development of cryptocurrencies for many years. And for the first time in the cryptocurrency industry held a chess competition FTX crypto cup, is very excited.

-- Photo credit: Meltwate website --

FTX continues to expand the sports landscape

The FTX trading platform, which just celebrated its second anniversary, has been expanding its presence in sports this year. Earlier this month, FTX and the NBA's Miami Heat reached an official partnership that will see the team's Arena renamed the FTX Arena next season.

FTX's Blockfolio, on the other hand, has signed Trevor Lawrence, one of the NFL's biggest up-and-comers, as its brand spokesman.

In response, an FTX spokesman told the Action Zone that the partnership with the best players in different sports is hoped to attract more traditional investors to trade on the FTX platform.

In an interview with The Block, FTX founder and CEO SBF said: "We're excited to partner with leaders in more areas to expand our user base.

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