Red Bull are in advanced talks with cryptocurrency firm Gate.io over a sponsorship deal for the F1 2025 season, it has been claimed.

It comes after the team’s arrangement with previous crypto backer Bybit concluded at the end of last year.

Rumour: Red Bull closing in on Bybit replacement for F1 2025

Additional reporting by Thomas Maher

PlanetF1.com revealed earlier this month that Red Bull’s three-year deal with Bybit – reported to be worth $150million when agreed ahead of the 2022 season – reached a natural conclusion at the end of 2024.

Red Bull and Bybit had been in negotiations about a renewal for F1 2025 and beyond.

Go deeper: Understanding Red Bull’s Max Verstappen

👉 Jos Verstappen: The F1 racer turned ruthless mentor behind Max Verstappen’s supreme F1 talent

👉 Revealed: The three rules introduced by the FIA because of Max Verstappen

However, faced with an uncertain cryptocurrency market in light of the United States presidential election, Bybit decided against continuing its involvement with F1 at such a high level.

A report by respected publication SportBusiness has claimed that Red Bull are in advanced talks with Gate.io to become the team’s new crypto partner ahead of the new season.

Gate.io already has an interest in sport with the firm the current sleeve sponsor of Inter Milan, the prestigious Italian football club.

More on Red Bull and Max Verstappen

👉 Red Bull news

👉 Max Verstappen news

The speculation linking Red Bull to Gate.io comes after the team secured two new partners for F1 2025, welcoming online trading broker AvaTrade and video conferencing tech firm Neat to their sponsorship portfolio.

Avatrade has joined on a lucrative multi-year deal, with sources close to the situation describing the valuation of the partnership as “significant.”

Avatrade branding already appeared on the Red Bull car at the F1 2024 season finale in Abu Dhabi and is expected to feature prominently on the new RB21 car for the F1 2025 season.

Its logos will also appear on team kit and driver suits of drivers Max Verstappen, the reigning four-time World Champion, and new team-mate Liam Lawson.

Avatrade will also sponsor Red Bull’s driver academy program and support Talking Bull, the team’s in-house podcast.

Meanwhile, the logos of Neat will have a prominent presence on the RB21, the helmets of the team’s pit crew and on-track displays, with Neat video technology set to be deployed throughout the Red Bull organisation.

Read next: PF1 verdict: Does Max Verstappen to Aston Martin make sense?