The crypto world has long been intertwined with sports, especially football. Bybit, a leading digital asset trading platform, has solidified its position in sports by partnering with Formula One's reigning champions, the Oracle Red Bull Racing team. Now, Bybit is launching its Crypto Cup in 2024, offering crypto traders and football fans a chance to win a share of a 500,000 USDT prize pool.

According to the press release, the Crypto Cup 2024 will run from June 12, 2024, at 10 a.m. UTC, to July 14, 2024, at 7 p.m. UTC. The event aims to combine the excitement of soccer with the fast-paced nature of crypto trading.

Bybit users can earn Crypto Cup Tickets through various activities on the platform. Each ticket allows them to vote for their favorite soccer teams and earn Crypto Cup Points, determining their share of the prize pool.

In addition to the main prize pool, Bybit will offer an exclusive trip to Austria for one lucky winner in each of the five rounds of lucky draws. This prize includes a round-trip ticket and a one-night stay at a luxury hotel.

To earn Crypto Cup Tickets, users can achieve trading volumes of 50,000 USDT in perpetual and futures contracts, 15,000 USDT in options trading, or 10,000 USDT in spot trading. Referring friends who deposit and trade on Bybit also earns tickets. Creating a Bybit Cloud Wallet or a Keyless Wallet, and achieving a trading volume of 5,000 USDT using a Trading Bot, will also secure tickets.

Bybit will also offer tickets to new and existing VIP users based on their VIP level, and for spending with the Bybit Card or referring friends to apply for the card.

Previously, Binance, the world's largest crypto trading firm, announced a multi-year partnership with Manchester United and Cristiano Ronaldo, launching a blockchain-backed football initiative with a prize pool of $1 million tokens.

Founded in 2018, Bybit is a significant player in the sector, ranking second in derivatives volumes and fourth in spot trading volumes according to CoinMarketCap. Recently, Bybit CEO Ben Zhou dispelled rumors of insolvency, assuring that the company has a healthy balance sheet and providing a link to its proof-of-reserves (PoR).