FTX y el acuerdo del condado de Miami-Dade terminan cuando SBF niega las acusaciones

• Miami-Dade County will now begin to strip FTX’s advertising brand from the Miami Heat’s arena, post approval from the bankruptcy judge.
• Judge John T. Dorsey stated that the rights deal “shall be [terminated] effective immediately upon entry of this order.”
• Miami-Dade County secured a $135 million deal with the cryptocurrency exchange in 2021 to name the arena “FTX Arena” until 2040.
• La marca FTX está repartida por todo el estadio, incluso en su techo, en la cancha de baloncesto, en las camisetas polo que usa el personal de seguridad, etc.

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Amid the prolonged crypto winter, once-leading crypto exchange platform FTX, which filed for bankruptcy in November 2022, has acted as a catalyst to intensify the ongoing chaos in the industry. After getting approval from a United States bankruptcy judge in Delaware on January 11, Miami-Dade County will now begin to strip FTX’s advertising brand from the Miami Heat’s arena.

De acuerdo a to the Associated Press, on Wednesday, a federal bankruptcy court terminated the naming rights deal between FTX and Miami-Dade County. As a result, all the collapsed exchange’s signage and advertising would be removed from the NBA’s Miami Heat’s arena. The U.S. Bankruptcy Judge John T. Dorsey stated that the rights deal “shall be [terminated] effective immediately upon entry of this order.”

Notably, Miami-Dade County secured a $135 million deal with the cryptocurrency exchange in 2021 to name the arena “FTX Arena” until 2040. It is interesting to note that the FTX branding is spread all over the arena, including on its roof, on the basketball court, on the polo shirts worn by security staff, at multiple entrances, and even on many of the electronic cards used by employees to access the facility. 

However, following FTX’s bankruptcy filing, the county filed a motion to cancel the naming rights agreement in November last year. It claimed that referring to the building as FTX Arena would only worsen the “enduring hardships” brought on by the failure of the cryptocurrency exchange.

One of FTX’s primary marketing strategies was to secure sports sponsorships, including a partnership with NFL quarterback Tom Brady, a deal with a Formula 1 international racing team funded by Mercedes, and the naming rights to Cal Memorial Stadium in Berkeley, California.

El grupo profesional de deportes electrónicos Team SoloMid (TSM) también rescindió un acuerdo de $210 millones con FTX. En particular, TSM pasó a llamarse TSM FTX como resultado de la asociación en junio de 2021.

El fundador de FTX niega las acusaciones

FTX fue el tercer intercambio de criptomonedas más grande, pero sufrió pérdidas masivas antes de quebrar después de un colapso dramático que solo duró unos días. Las estimaciones de sus pérdidas oscilan entre $8 mil millones y $10 mil millones.

Sam Bankman-Fried, the company’s founder, was detained in the Bahamas last month and then extraditado a estados unidos to face charges in what U.S. Attorney Damian Williams has referred to as “one of the biggest frauds in American history.”

El 12 de enero, SBF reclamado that FTX US had been “fully solvent” at the time when the firm se acogió al Capítulo 11 de bancarrota en noviembre, con aproximadamente $350 millones en efectivo disponible. Agregó además que si él hubiera estado a cargo del canje, se habría mantenido solvente. Sin embargo, es crucial tener en cuenta que FTX se declaró en bancarrota bajo SBF. Además, el ex ejecutivo también culpó al CEO de Binance, Changpeng Zhao, por el colapso de su empresa.

“I didn’t steal funds, and I certainly didn’t stash billions away. Nearly all of my assets were and still are utilizable to backstop FTX customers,” he stated.

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