Warriors join Heat, suspend deal with FTX after cryptocurrency company declares bankruptcy

  • 📰 WOKVNews
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

The Golden State Warriors are suspending their deal with FTX, too.

The Warriors announced that they will be suspending their partnership with the cryptocurrency company after Monday night's game against the San Antonio Spurs,The final promotion will be the Jordan Poole bobblehead giveaway at the Chase Center for the matchup. All other FTX promotions and ads have been removed.

The move marks the second NBA team to officially cut ties with FTX after it declared bankruptcy last week. Theand are now looking for a new title sponsor for FTX Arena. The company purchased the naming rights in a massive 19-year, $135 million deal. FTX also had several other sports endorsements and partnerships in recent years, including with several notable athletes in commercials and even on MLB umpire uniforms.

FTX is the fifth-largest cryptocurrency exchange in the world. The company crashed earlier this month, and it saw about $6 billion in requested withdrawals over a three day period —The deal was one of two notable ones in the United States. Crypto.com purchased the naming rights to the arena formerly known as the Staples Center in Los Angeles last year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 247. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Paradigm marks down FTX investment to zero: SourcesParadigm, one of crypto exchange's FTX's most notable investors, marked down its investment in the crypto firm to zero, according to two persons familiar with the situation. Lol Is there anything like it? Theyy don’t want youu to know thiss
Source: TheBlock__ - 🏆 464. / 53 Read more »