Ripple became an official sponsor of Kansas Jayhawks sports, with the company announcing Wednesday that an XRP patch will appear on team jerseys, marking the first cryptocurrency logo on a major collegiate athletics program. The sponsorship deal involves CEO Brad Garlinghouse's alma mater, the University of Kansas. The partnership follows the NCAA's January ruling that Division I teams could begin placing corporate logos on jerseys starting in August, opening the door for cryptocurrency branding in college sports.
NCAA Rule Change Enables Cryptocurrency Branding on College Jerseys
In January, the NCAA ruled that Division I teams could begin placing corporate logos on their jerseys in August. This regulatory shift enabled Ripple's partnership with Kansas Athletics. "Ripple recognizes the unique reach and passion of the Jayhawk community, and we're proud they have chosen Kansas Athletics as a premier platform to introduce XRP to millions of sports fans," said Travis Goff, director of athletics at the University of Kansas. While cryptocurrency firms sponsoring sports teams and arenas is not new, corporate logos on college jerseys represent a recent development in collegiate athletics.
Ripple Commits to Student-Athlete Education Programs and Career Pipeline
Beyond the jersey sponsorship, Ripple committed to fund financial and technology education programs for student-athletes. The company will also expand its existing talent pipeline connecting Kansas graduates to careers across the technology industry. "Having the XRP logo displayed on our Jayhawk uniforms reflects a shared commitment to innovation and excellence," Goff stated.
SEC Lawsuit Against Ripple Concluded with $125 Million Penalty
In 2020, the U.S. Securities and Exchange Commission accused Ripple of raising $1.3 billion through the sale of XRP, which the agency said was an unregistered security. Last year, Garlinghouse said he and Ripple were moving on after years of fighting the case. Ripple was ordered to pay approximately $125 million, and both the SEC and Ripple dismissed their respective appeals last August. "For four years, a lawsuit that never should have been filed cost XRP holders real value, exchanges delisted a top digital asset, and manufactured doubt that had nothing to do with the technology or its utility," Garlinghouse said in a statement. "With the lawsuit behind us, now is the time to remind people what makes XRP unique, useful and worth paying attention to."
XRP Holds Fourth-Largest Non-Stablecoin Market Position
XRP is the fourth-largest non-stablecoin cryptocurrency, with a market cap of $67.5 billion according to The Block's price data.
FAQ
What did Ripple announce on Wednesday regarding Kansas Jayhawks sports?
Ripple announced Wednesday that it became an official sponsor of Kansas Jayhawks sports, with an XRP patch to appear on team jerseys, marking the first cryptocurrency logo on a major collegiate athletics program.
When did the NCAA rule allow corporate logos on Division I team jerseys?
The NCAA ruled in January that Division I teams could begin placing corporate logos on their jerseys starting in August, enabling partnerships like Ripple's sponsorship of Kansas Athletics.
How was Ripple's SEC lawsuit resolved?
Ripple was ordered to pay approximately $125 million after the U.S. Securities and Exchange Commission accused the company in 2020 of raising $1.3 billion through unregistered XRP sales. Both the SEC and Ripple dismissed their respective appeals last August.
