• Sam Bankman-Fried’s FTX sports, which has signed a five-year deal as the official crypto exchange brand of Major League Baseball (MLB), has announced a new competition dubbed “MLB MOONBLASTS Pick ‘Em,” the Coindesk reports.

• According to the competition, the winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run for the rest of the season.

• FTX has partnered with Major League Baseball to become the first cryptocurrency exchange sponsor in professional sports.

• The partnership establishes FTX as the official cryptocurrency exchange brand of the baseball organization.

• The deal involves FTX branding appearing on all umpire uniforms, which began at the All-Star Game in Denver on July 13, and will continue into the postseason.

• As part of the contract, FTX will exercise worldwide marketing rights associated with MLB logos.

• In March, FTX secured the naming rights to the home arena of the NBA's Miami Heat for $135 million, Coindesk reports.

• On Saturday, Bankman-Fried tweeted that the exchange had become the first cryptocurrency derivatives exchange for receiving a US GAAP audit.

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