Red Bull have signed a multi-year partnership with cryptocurrency exchange Bybit in what the Formula One team said was the largest annual crypto tie-up in international sport so far. The Bybit deal comes after Red Bull unveiled software giant Oracle as their title sponsor last week in a deal worth £252million ($300m) over five years. The deal with Red Bull means Bybit, which was established in March 2018 and has over six million registered users worldwide, become the team’s exclusive cryptocurrency exchange partner. Bybit becomes the latest cryptocurrency player to foray into Formula One with the French Alpine team announcing a tie-up with Binance on Tuesday.

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