FTX filed for bankruptcy on Friday in one of the highest-profile crypto blow-ups after traders withdrew $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.
David Ridpath, professor of sports administration at Ohio University, believes the situation at FTX could “100%” lead to sports firms looking outside crypto to avoid association with the space in future. “While crypto might be cooling off as an emerging category, there are always other growth areas to watch — sports betting, CBD, Fintech, are a few examples to keep an eye on,” Mann said.
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