America’s popular basketball team Miami Heat, FTXdecided to withdraw from the 19-year agreement with
Cryptocurrency exchange FTX After the collapse of , deals and partnerships began to be terminated. Sam Bankman-Fried, CEO of FTX, whose name is mentioned with scandalous allegations ( SBF ), was claimed to be the number one name in the stock market crash. The allegations that the exchange trades with the assets of its customers also took place on the agenda. With the outbreak of events Mercedesafter, Miami Heatannounced its withdrawal from the agreement.
FTX Bankruptcy Speeds Things Up for Miami Heat
Cryptocurrency exchange FTXbankruptcy, professional basketball team Miami Heatspeeded things up.
Immediately after the stock market’s bankruptcy, Miami Heatand Miami-Dade County published a joint statement. Citing the collapse of the cryptocurrency exchange, they cut all ties.
Miami Heatand FTX The naming rights of the stadium where the basketball team played their matches were given. Events that echoed in the city of Miami brought the cancellation of the agreements.
Miami Heatand Miami-Dade CountyIn their joint statement, they stated the following;
“Reports on FTX and its affiliates are extremely disappointing. Miami-Dade County and Miami HEAT are taking immediate action to end our business relationships with FTX.”
The city of Miami has also started looking for a new sponsorship for the arena where the basketball team will play their matches.
