Checkmate for Bitcoin? Chess tournament offers crypto prize

A chess contest offers $100,000 of bitcoin as a prize

alongside a $220,000 cash pot

Location: Hong Kong

(SOUNDBITE) (English) FTX CHIEF EXECUTIVE SAM BANKMAN-FRIED SAYING ON SPONSORING THE TOURNAMENT: "... in a number of ways you know the chess demographic overlaps a fair bit with the cryptocurrency demographic in terms of people who are tend to be technologically sophisticated, you younger and quantitative, and so I think you know while crypto's appeal is definitely broadening quite a bit, you know that still does remain the demographic that is most amenable to it."

The FTX Crypto cup will have the biggest ever prize for an online chess contest

and will involve 15 of the world's leading players

Location: The Hague, Netherlands

(SOUNDBITE) (English) DUTCH NUMBER ONE CHESS PLAYER, ANISH GIRI, SAYING:"For sure I know a lot of my friends and colleagues who are into this topic from very early on they are very much interested because obviously it is a a very exciting and new technology. Also, besides it being an exciting new technology is sort of an opportunity to sort of make some money if you are fortunate with your timings. I have read about it a lot it has been discussed a lot within the chess communities."

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