This Crypto Exchange Is Sponsoring The 2022 Grammy Awards

The world’s largest cryptocurrency exchange Binance will sponsor the 64th Annual Grammy Awards.

What Happened: In a press release on Thursday, Binance said it had signed a partnership agreement with the Recording Academy to become the “first-ever” official cryptocurrency exchange partner for the Grammy week events.

The exchange also plans to continue working with the Academy throughout the year, bringing Web3 technology solutions and experiences to the organization's members, events, and initiatives.

“As the leading player in the crypto and blockchain space and with its community-focused approach, Binance is the perfect partner for the GRAMMYs and for our mission to empower music people around the world," said Recording Academy Co-President Panos A. Panay.

The Grammys will take place on April 3 at 8 PM ET at the MGM Grand Garden Arena in Las Vegas and will be broadcast live to audiences across the globe.

Crypto exchanges have recently made waves by scoring large sponsorship deals with renowned global organizations. Last month, Singapore-based crypto exchange Crypto.com signed a deal with FIFA to sponsor the Qatar World Cup.

In October, major U.S. crypto exchange Coinbase Global Inc (NASDAQ: COIN) became the first cryptocurrency sponsor of the National Basketball Association (NBA).

Price Action: According to data from Benzinga Pro, the leading digital asset Bitcoin (CRYPTO: BTC) was trading at $44,800, losing 4.74% over the last 24 hours. Ethereum (CRYPTO: ETH) was trading at $3,251, down 4.24% over the same period.

Photo courtesy: Grammy.com