Cade Cunningham and BlockFi, a financial service company endeavoring to bridge cryptocurrencies and traditional finance, have agreed to a multiyear partnership.
As part of the deal, the Detroit Pistons guard will receiving a signing bonus paid in Bitcoin. The No. 1 overall pick will serve as a spokesperson in a campaign aimed at raising cryptocurrency awareness. Over the past few years, there's been an explosion of interest among athletes wishing to be paid in Bitcoin and franchises willing to adapt to the ever-changing world.
Cunningham's interest is in part driven by a desire to increase financial inclusivity and diversification. His messaging is expected to also advocate for responsibility and increased education.
Founded in 2017, BlockFi bills itself as a "new breed of financial services company."