Bybit's prominence in the crypto industry began to rise when it became a major sponsor of Red Bull Racing between 2022 and 2024. The sponsorship was valued at about $150 million, establishing Bybit as not only a major player in the crypto exchange market but also as a strong brand in Formula 1.

Lawson has joined Red Bull for 2025 alongside Max Verstappen after the team parted ways with Sergio Perez. The Mexican endured a difficult 2024 campaign in which he was comprehensively out-performed by Verstappen, who claimed his fourth successive world title.