Combine the graham cracker crumbs and melted butter until moistened and crumbly.
Press the mixture into the bottom of a 9-inch springform pan and refrigerate to set.
Combine the cream cheese and powdered sugar in a large bowl, mixing with a hand mixer on medium speed (or in your stand mixer) until smooth.
Add the melted white chocolate in a steady stream while the mixer is running on low speed, until completely incorporated. Scrape down the sides of the bowl to be sure everything is incorporated.
Fold in the whipped topping by hand until the mixture is fluffy and creamy.
Fold in the sprinkles until they're evenly distributed throughout the cheesecake mixture.
Pour the cheesecake mixture into the refrigerated crust and smooth out the top with a rubber spatula.
Refrigerate to set for 6 hours or overnight, or set in the fridge for 2-3 hours and then in the freezer for 2-3 hours before serving.
Slice and serve with whipped cream and more sprinkles.
Notes
Be sure to use room temperature cream cheese. If you use cream cheese straight from the fridge, the white chocolate will solidify as you add it to the cream cheese mixture.