Bybit Ends $150 Million Sponsorship as Red Bull Faces Shifts for 2025

Red Bull Racing is facing significant changes ahead of the 2025 Formula One season. One of the most notable developments is the end of its partnership with Bybit, a cryptocurrency exchange. The sponsorship deal, valued at $150 million over three years, concluded unexpectedly, leaving a gap in Red Bull’s sponsorship portfolio.

Bybit Departure Impacts Red Bull

In terms of its driver lineup, Max Verstappen has secured his fourth Formula One driver’s championship in 2024, further solidifying his position as one of the sport’s top drivers. Verstappen has also shown interest in changing the team’s livery, preferring a departure from the matte finish used in recent years. In Red Bull’s ‘Talking Bull’ podcast, he acknowledged Sergio Perez’s role in the team, despite the performance gap that ultimately led to Perez’s departure.

ByBit had been a prominent sponsor of the Red Bull F1 team over the past three seasons, but opted against a renewal for F1 2025… #F1 https://t.co/11ch1OIYQp

— PlanetF1 (@Planet_F1) January 2, 2025

Perez, who joined Red Bull in 2021, had a disappointing 2024 season, finishing 285 points behind Verstappen. As a result, Red Bull decided to cut his contract short. Liam Lawson, who previously raced for Red Bull’s sister team, will replace Perez for the 2025 season. Lawson’s previous experience within the Red Bull family brings fresh energy to the team.

The end of the Bybit sponsorship adds further challenges for Red Bull. The loss of this significant revenue stream means the team will need to adjust its financial strategies for the 2025 season.

Bybit Ends Operations in Malaysia

Ben Zhou, Co-Founder and CEO of Bybit

Meanwhile, Bybit has ceased its operations in Malaysia following an order from the Securities Commission Malaysia (SC). The SC flagged Bybit for operating without local registration and held CEO Ben Zhou accountable for ensuring compliance, as reported by Finance Magnates.

The SC had previously added Bybit to its “Investor Alert” list in 2021 for operating a digital asset exchange without registration, alongside other unregistered platforms, including some crypto exchanges and CFDs brokers.

The order, communicated to Bybit on December 11, 2024, required the exchange to disable its website and mobile apps in Malaysia within 14 business days. Bybit was also instructed to stop all advertising and close its Telegram support group for Malaysian users. The SC cited concerns over compliance with local regulations and investor protection.

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