As part of the partnership between Kraken and Williams Racing F1 team, Kraken's branding will be displayed on the race cars and team merchandise
Formula 1 teams may be becoming more open to crypto advertising once again, even though many crypto companies withdrew their sponsorships after some high-profile incidents last year.
Kraken, a US-based crypto exchange, recently announced a partnership with the Williams Racing F1 team for a new sponsorship and Web3 agreement, making them the first major crypto company to sign a new deal in Formula 1 racing in 2023.