Photo: The Athletic
NBA basketball player Cade Cunningham, selected by the Detroit Pistons with the No.1 overall pick in the National Basketball Association's 2021 draft, is to be paid in Bitcoin, as announced on the BlockFi cryptocurrency platform.
BlockFi announced on August 19 that it had agreed to a multi-year partnership with Cade Cunningham and that the rising star will receive his signing bonus from BlockFi directly in Bitcoin, according to Forbes. As part of the agreement, Cunningham will partner with BlockFi on educational videos, giveaways, exclusive interviews, and other efforts to raise awareness of the value of cryptocurrencies.
The young basketball player stressed that many hardworking people still don't have access to economical and reliable savings and investment options, so he turned his eyes on cryptocurrencies. In addition, digital money attracted him because of “their ease of use, democratic and consensus underpinnings, and ability to evolve over time.”
On August 8, the Detroit Pistons announced that they had signed a deal with Cunningham for an estimated $45.5 million over four years. Thus, he will earn $10.1 million in the 2021-22 season.
BlockFi, which was founded in 2017 and named to Forbes' Fintech 50 List in 2021, offers account holders crypto-collateralized loans at interest rates starting at 4.5%. BlockFi's platform manages more than $15 billion in assets.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
