The intersection of sports and technology has led many NFL and NBA players to explore cryptocurrencies, leveraging their influence to promote blockchain innovations.
From endorsing crypto platforms to using them as payment gateways, these athletes are shaping the future of digital finance. This article highlights notable NFL and NBA players who have embraced cryptocurrencies. It also takes a cursory look at their playing career and the impact they’ve had on the growing crypto ecosystem.
Over time, a host of NFL and NBA players have been involved with cryptocurrencies in one way or the other. We’ve highlighted some of them and the part they played in the crypto ecosystem.
Jimmy Butler is an American professional basketball player. He is currently asking for his trade from the Miami Heat.
Commonly known as “Jimmy Buckets”, Jimmy has won several accolades including a gold medal as a member of the 2016 U.S. Olympic team and a five-time NBA All-Defensive Team member.
He is also one of the prominent NBA stars to have been involved with the crypto world after being featured in a video with Binance in 2022. On February 13,2022, Jimmy Butler, in a video with Binance urged the public to ‘do their own research about crypto.’ In the video, Buttler said: “Binance and I are here to tell you, trust yourself and, of course, do your own research. Be on the lookout for more before the game.”
Tyrese Haliburton is a professional basketball player who plays as a point guard for Indiana Pacers of the National Basketball Association (NBA). On Mar 20, 2024, Tyrese disclosed his involvement with the crypto space during an interview with 2024 NBA Slam Dunk Contest champion Mac McClung.
According to him (Tyrese) he considered taking a large sum of his salary and giving it to his brother to trade while paying attention to the dips in the market. He further said that whilst he first heard about bitcoin, he found himself gravitating to Ethereum, since it was the blockchain that hosted the majority of NFTs.
Regarding the connection between crypto and NBA,Tyrese John Haliburton said that “the presence of crypto in the NBA is definitely growing, especially with the collaboration between one of the best crypto exchange Coinbase and the NBA, just the brand being there I think that’s caused more conversations to come about as of late.”
Stephen Curry, Golden State Warriors’ point guard and a four-time champion, had a rough turn of events after the FTX cryptocurrency scandal shook the exchange world. The basketball great, who is also the NBA all-time 3-point record holder, was covered in controversy as he served as a brand ambassador for the FTX.
Things took a turn for the worse when FTX filed for bankruptcy in 2022, resulting in Curry suffering significant damages. As if the monetary compensation sought wasn’t enough, busing along with several other celebrities who endorsed the firm are now undergoing legal investigations for promotion of the failed crypto firm.
However, with several endorsements including lucrative contracts with the NBA, it is expected that Curry would remain unaffected post FTX. The entire event serves as a wakeup call to athletes looking to invest into endorsement relationships with digital assets, as there are significant risks involved, even for high profile sportsmen.
The New York Jets quarterback Aaron Rodgers, who played an incredible 18 seasons with the Green Bay Packers, wowed the sporting world when he made a bold move into cryptocurrency in 2021. The cash rich former NFL superstar chose to partner with Cash App in a big way by converting part of his hefty paycheck into Bitcoin while also starting a million dollar Bitcoin giveaway campaign for his fans.
The former Cal Bears sensation, who set several college career passing records, held a strong position on cryptocurrency by advocating for members of the public to get involved through messages posted on social media. He encouraged fans to submit their Cash App tags with the hashtag #PaidInBitcoin, seeking a more widespread adoption of digital currency to the masses and to make the cryptocurrency more accessible.
Russell Okung, the former NFL offensive tackle, was one of the first professional athletes to make a large part of his salary into cryptocurrencies, thereby making history. It all started in 2019 when he expressed interest in making payments through bitcoin, and right after that, he was able to fulfill the wish through an innovative arrangement in 2020.
In association with the digital payment service Strike, Okung set a deal in which half of his $13 million salary with the Carolina Panthers was converted into bitcoin. While the NFL team continued to pay him in standard currency, the innovative Strike app allowed for a $6.5 million instant conversion of traditional currency to cryptocurrency.
Sean Culkin, a former NFL tight end, gained notoriety for one of the most controversial financial moves in the league back in April 2021. Because of his unconventional approach to finances and crypto, he is making rounds in the news. After signing a reserve/future contract with the Kansas City Chiefs, he openly stated that he would convert his entire NFL salary into Bitcoin, making him the first athlete in the league to commit to a digital currency in such a fashion.
While still a practicing footballer, Culkin magnificently highlighted his conviction towards Bitcoin’s value, strongly stating that his financial moves were not geared towards short term gains. Unlike many other athletes who merely semi-diversified their portfolios, Culkin showed extreme amounts of faith in Bitcoin as well as cryptocurrency, setting him apart from his contemporaries.
Saquon Barkley, a Philadelphia Eagles running back, stirred the crypto market when he said he would convert his entire marketing and symbol earnings to Bitcoin – all through the Strike payment system.
While being interviewed by Anthony Pompliano in his show, ‘The Best Business Show’, Saquon mentioned the inflation of the dollar to be the underlying factor behind his decision. At 24 years of age, Barkley said, “We’re seeing inflation, learning, you can’t just save wealth,” which makes him worry about the economy, and he clearly is in favor of the bitcoin converting strategy.
While other players in the league were changing portions of their playing salaries into Bitcoin, Barkley’s focus shifted solely to his marketing endorsements. This strategy has been effective in protecting against inflation and is also becoming more common among athletes.
