DGAP-News: Oracle Red Bull Racing Drivers Max Verstappen and Sergio Pérez Take a Ride to Become Crypto Insiders With Bybit

Oracle Red Bull Racing Drivers Max Verstappen and
Sergio Pérez Take a Ride to Become Crypto Insiders
With Bybit

• As one of the crypto-inspired initiatives of its
  partnership with Oracle Red Bull Racing, Bybit
  created the #BybitLevelUpChallenges, a series of
  videos featuring Oracle Red Bull Racing F1 drivers
  Max Verstappen and Sergio ‘Checo’ Pérez about digital
  assets and technology in racing.
• In the latest episode, Max and Checo opened the
  crypto-racing dictionary and took up Bybit’s “Crypto
  Slang Challenge”, an original way to learn the
  meaning of crypto trading terms such as “HODL”, “Gas
  Fees”, “Bear Market”, “Fiat on-ramp” or their
  favorite, “When Lambo”.

DUBAI, UNITED ARAB EMIRATES –
Media OutReach – 12 May 2022 –
Bybit, one of the world’s fastest growing
cryptocurrency exchanges, premiered the “Crypto Slang
Challenge”, the second episode of its crypto-inspired
series #BybitLevelUpChallenges. Conceptualized as a
beginner’s guide to pave the way forward for the
crypto curious in ways that are immediately relevant
to race fans, the new episode features Oracle Red
Bull Racing drivers Max Verstappen (2021 Formula 1
Drivers’ World Champion) and Sergio ‘Checo’ Pérez on
a crash course challenge to decipher the latest and
most common crypto trading terms and slang in both
the crypto and racing world. It turns out that both
industries have a lot in common.

The Crypto-Racing Dictionary, created by Bybit to
help F1 fans and crypto enthusiasts alike understand
relevant terms that are applicable in both the crypto
and racing world

Hosted exclusively on
Bybit Race Insider and Bybit’s official social
channels (Twitter, Facebook, Instagram, LinkedIn),
fans will be able to check out the drivers’
performance in learning the meaning of crypto trading
terms such as “HODL”, “Gas Fees”, “Bear Market”,
“Fiat on-ramp” or their favorite, “When Lambo”.

F1 drivers are extremely competitive and confident by
nature and both Max and Checo showed it on the Crypto
Slang Challenge, as they tried to guess the meaning
of terms and acronyms related to cryptocurrency
trading, while also establishing similarities using
those terms in the racing world. The result: Oracle
Red Bull Racing drivers are now far more
knowledgeable on crypto references.
 

Snippets from the episode where Max and Checo both
tried deciphering crypto slang and
references

In a race to become Bybit Insiders themselves, Oracle
Red Bull Racing drivers took on the challenge to
guess and appreciate the meaning of expressions such
as “gas fees” (blockchain transaction fees),
“position” (a trade) or “fiat on-ramp” (a reference
for one-stop conversion of fiat money into
cryptocurrency). Crypto enthusiasts and F1 fans alike
are in for a good laugh, as Max and Checo tried their
hands (and luck) at guessing the meaning of acronyms
such as ATH (all-time high) and FUD (fear,
uncertainty and doubt).

When the drivers were asked to guess the meaning of
“HODL” (an acronym for “hold on for dear life”, an
expression used by crypto enthusiasts referring to a
long-term approach to cryptocurrency) 2021 Formula 1
Drivers’ World Champion Max Verstappen quickly stated
“stick to your position”, showing that he has some
grasp of the investment jargon.

When the drivers were shown the term “diamond hands”,
Verstappen immediately responded “that’s Checo”, and
Max was right in a way, as crypto enthusiasts use
this expression to talk about high risk tolerance
when trading and investing — this bears some
similarity to Checo’s stellar strategies that earned
him the title as “Minister of Defense”.

“Is where things are really nasty on the market,”
said Checo when asked the meaning of the term “bear
market”, displaying his knowledge.

But perhaps the most entertaining part of the
challenge was when Max and Checo were asked to guess
the meaning of the expression “when Lambo?” as Max
promptly responded “when to shine through the
streets… show off”, while Checo added, “you’ve done
well in crypto, you have to show it”.

Before the start of the 2022 Formula 1 season, Bybit
became Oracle Red Bull Racing’s exclusive Principal
Team Partner, Cryptocurrency Exchange Partner, Fan
Token Issuance Partner and Tech Incubator Partner.
Both crypto and racing fans can now look forward to
more exclusive content and exciting initiatives only
available at the
Bybit Race Insider — check it out to stay updated
on what else Max and Checo might be up to together
with Bybit!

As the Fan Token Issuance Partner and Tech Incubator
Partner, Bybit will support Oracle Red Bull Racing
with the distribution of its growing digital asset
collections among other endeavors, so fans will have
to stay tuned for more surprises in the near
future.
 

About Bybit

Bybit is a cryptocurrency exchange established in
March 2018 that offers a professional platform where
crypto traders can find an ultra-fast matching
engine, excellent customer service and multilingual
community support. The company provides innovative
online spot and derivatives trading services, mining
and staking products, an NFT marketplace as well as
API support, to retail and institutional clients
around the world, and strives to be the most reliable
exchange for the emerging digital asset class. Bybit
is a proud partner of Formula One racing team, Oracle
Red Bull Racing, esports teams NAVI, Astralis,
Alliance, Virtus.pro and Oracle Red Bull Racing
Esports, and association football (soccer) teams
Borussia Dortmund and Avispa Fukuoka.

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