Leading cryptocurrency exchange Kraken and Premier League football club Tottenham Hotspur announced a global partnership to enhance fan experience and fans’ knowledge of cryptocurrency.
As part of the strategic collaboration, Kraken will engage with Tottenham Hotspur’s global fanbase through various activities, including exclusive content and events.
As part of the deal, Kraken will become the official sleeve partner for both Tottenham’s men’s and women’s teams. Kraken is also the club’s first official crypto and Web3 partner.
Bigger All The Time
Kraken and Tottenham Hotspur have a shared vision to leverage technology to enhance fan experience and push industry boundaries.
Throughout the partnership, the two teams will produce exciting content and memorable experiences that focus on crypto education and Web3 technology to engage fans.
Kraken plans to connect with Tottenham’s global fan base through exclusive content and fan events, offering behind-the-scenes access to both Kraken’s and Tottenham Hotspur’s activities.
Ryan Norys, Chief Revenue Officer at Tottenham Hotspur, expects the partnership to bring the club’s fans “a range of exciting events and experiences.” Norys also appreciates Kraken’s leadership in the Web3 space and its commitment to educating fans about the crypto ecosystem.
Mayur Gupta, Chief Marketing Officer at Kraken, said the partnership is a way to make cryptocurrency more accessible and mainstream.
“Spurs supporters and the crypto community both have an undeterred and relentless passion for what they believe in. Kraken’s vision is that crypto, like football, should be accessible to everyone,” Gupta stated.
Kraken’s collaboration with Tottenham Hotspur follows the exchange’s recent partnership with Atletico de Madrid, a prominent Spanish football club.
Everywhere In Football
Last month, Atlético de Madrid and Kraken announced a partnership where Kraken became the Official Crypto and Web3 Partner and Official Sleeve Partner of Atlético de Madrid starting from the 2024/25 season. Atlético and Kraken focus on enhancing the digital experiences for Atlético de Madrid’s fans and promoting cryptocurrency education.
Kraken’s latest partnership is part of a broader trend of football clubs and figures, and cryptocurrency companies collaborating to enhance fan engagement and promote digital assets.
Previously, major football clubs like Paris Saint-Germain or AC Milan had revealed their partnerships with prominent cryptocurrency projects.
In May, Cristiano Ronaldo dropped his latest NFT collection called “Forever Worldwide: The Road to Saudi Arabia” in partnership with Binance. The release marked Ronaldo’s fourth NFT collection backed by Binance.
Kraken Plans IPO
Kraken is planning a $1,000 million funding round as it gears toward a potential initial public offering (IPO), according to a recent report from Bloomberg. Kraken expects the pre-IPO funding round to help attract more investors and increase its global footprint.
The funding round is anticipated to be completed by the end of this year, setting the stage for Kraken’s IPO launch. However, the exchange has not provided specific details on the IPO timeline or structure at the time of reporting.
Kraken has been considering going public since 2021 following its competitor Coinbase. However, the plans were on hold due to the market downturn and legal challenges with the SEC.
The SEC sued Kraken in 2023 for operating an unregistered staking program, which the exchange later settled for $30 million. After the settlement, the SEC filed another lawsuit against Kraken, alleging the exchange listed unregistered securities.
Analysts estimate that if Kraken’s IPO is successful, the exchange could be valued at up to $20 billion. This would make it one of the most highly valued crypto companies, comparable to Coinbase’s $60 billion market cap.
Despite ongoing legal challenges, Kraken has consistently demonstrated its commitment to the growth of the industry. Kraken’s co-founder Jesse Powell recently disclosed he donated $1 million to Donald Trump’s 2024 presidential campaign.
Trump has been in the headlines for his crypto-friendly approach and industry-supportive statements over the past few months. Powell believes Trump is the only candidate advocating for policies that will allow the U.S. to remain a leader in blockchain technology.
