Miami-Dade County kommer nu att börja ta bort FTX:s reklamvarumärke från Miami Heats arena efter godkännande från konkursdomaren.

Affären mellan FTX och Miami-Dade County avslutas när SBF förnekar anklagelser

  • 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.
  • FTX-märket sprids över hela arenan, inklusive på dess tak, på basketplanen, på pikétröjor som bärs av säkerhetspersonal, etc.

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.

Enligt 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.

Den professionella esportgruppen Team SoloMid (TSM) sade också upp ett avtal på $210 miljoner med FTX. TSM bytte namn till TSM FTX som ett resultat av partnerskapet i juni 2021.

FTX-grundare förnekar anklagelser

FTX var den tredje största kryptovalutabörsen, men den led massiva förluster innan den gick i konkurs efter en dramatisk härdsmälta som bara varade i några dagar. Uppskattningar av dess förluster sträcker sig från $8 miljarder till $10 miljarder.

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

Den 12 januari har SBF hävdade that FTX US had been “fully solvent” at the time when the firm ansökte om kapitel 11-konkurs i november, med ungefär $350 miljoner i kontanter till hands. Han tillade vidare att om han hade varit ansvarig för utbytet, skulle det ha förblivit solvent. Det är dock viktigt att notera att FTX ansökte om konkurs under SBF. Dessutom den tidigare verkställande direktören också skyllde på Binances vd, Changpeng Zhao, för kollapsen av hans företag.

“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.

Parth Dubey
Parth Dubey Verifierad författare

En kryptojournalist med över 3 års erfarenhet av DeFi, NFT, metaverse etc. Parth har arbetat med stora medier inom krypto- och finansvärlden och har skaffat sig erfarenhet och expertis inom kryptokultur efter att ha överlevt björn- och tjurmarknader genom åren.

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