Umowa FTX i hrabstwa Miami-Dade kończy się, gdy SBF zaprzecza zarzutom

• 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.
• Logo FTX jest rozsiane po całej arenie, w tym na jej dachu, boisku do koszykówki, koszulkach polo noszonych przez pracowników ochrony itp.

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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.

Według 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.

Profesjonalna grupa e-sportowa Team SoloMid (TSM) również rozwiązała umowę o wartości $210 milionów z FTX. Warto zauważyć, że w wyniku partnerstwa w czerwcu 2021 r. zmieniono nazwę TSM na TSM FTX.

Założyciel FTX zaprzecza zarzutom

FTX była trzecią co do wielkości giełdą kryptowalut, ale poniosła ogromne straty, zanim zbankrutowała po dramatycznym krachu, który trwał tylko kilka dni. Szacunki jego strat wahają się od $8 miliardów do $10 miliardów.

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

W dniu 12 stycznia SBF przejęte that FTX US had been “fully solvent” at the time when the firm złożył wniosek o ogłoszenie upadłości na podstawie rozdziału 11 w listopadzie, z około $350 mln w gotówce w kasie. Dodał ponadto, że gdyby był odpowiedzialny za wymianę, pozostałaby ona wypłacalna. Należy jednak zauważyć, że FTX złożyła wniosek o upadłość w ramach SBF. Co więcej, były kierownik również obwinił CEO Binance, Changpeng Zhao, za upadek jego firmy.

“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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