NBA's Miami Heat to terminate relationship with FTX, will get new arena name | CNN Business

and will search for a new naming rights partner for their arena in downtown Miami. The announcement came after the FTX group earlier on Friday filed for bankruptcy in the United States and its CEO resigned, marking a stunning downfall for one of the biggest and most powerful players in the crypto industry.

Like other crypto companies, FTX has invested heavily in sports sponsorships. FTX had reportedly inked a reported $135 million, 19-year deal to rename the Miami arena in June 2021. Also, Major League Baseball struck a five-year deal in 2021 to name FTX as its official cryptocurrency exchange. FTX is also the official cryptocurrency exchange partner of the Mercedes-AMG Petronas Formula One Team. Even college sports has ties to FTX, with the University of California, Berkeley, signing a $17.

Phantom Payment Scheme Arena

Thanks, I’ve been thinking a lot about logos (real, faked & value: real or not) as a brand PR experience way of meditating re: this FTX mess in news. Via first no om crypto as no FDIC insured status check like banks. And then Enron given creds of who handling FTX. Now this,

Its crazy how fast people get dropped

Lol no shit?!!

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FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
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