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Mercedes retaining FTX logos on W13 amid crypto sponsor's collapse
The Mercedes F1 team has retained the presence on its cars in Brazil of sponsor FTX, the cryptocurrency exchange that was dealt a near fatal blow this past week. But the Brackley squad said on Thursday that it was closley monitoring its commercial partner's situation. FTX's sudden liquidity concerns led to a massive outflow of investors' funds, an event that sent shockwaves through the crypto world late on Wednesday. Meanwhile, crypto industry leader Binance, which had struck a deal to acquire and bail out FTX, backed out of its plan after disclosing that a review of FTX’s books had unearthed "mishandled customer funds". Furthermore, reports have emerged that FTX's massive...
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