News Details

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...
Full Story »
2y ago from F1i.com 0
Share

You May Also Be Interested In...

Mercedes monitoring situation at bankruptcy-facing FTX

The Mercedes Formula 1 team said on Thursday they were keeping the...
2y ago from GrandPrix247.com

Two major sponsors set to leave F1

Nov.11 Two major sponsors in Formula 1 look set to exit the sport....
2y ago from OneStopStrategy.com

Mercedes: Racing in the mid-pack is an adjustment for...

Mercedes' Trackside Engineering Director, Andrew Shovlin admitted the...
2y ago from GrandPrix247.com

Formula 1 targeting new airline sponsor following...

Change is certainly in the air with Formula 1, following a report...
2y ago from Formula1News.co.uk

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

How Palou can clinch his fourth IndyCar championship...

Alex Palou is the man of the moment in IndyCar, and currently holds a 121...

Colton Herta: IndyCar at Laguna Seca is a...

IndyCar’s latest visit to Laguna Seca produced rave reviews from...

Popular On TotalWRC.com

Popular On GunnersToday.com

Arsenal plan attacker transfer approach and waiting...

Arsenal are reportedly planning to approach Crystal Palace over the...
49m ago from CaughtOffside.com

Joe Cole predicts Arsenal to finish 4th; Owen...

Former Premier League stars Joe Cole and Owen Hargreaves have predicted...
39m ago from SportsKeeda.com

Sources: Arsenal were offered another Chelsea player,...

Arsenal were among the clubs offered the chance to sign Chelsea striker...
3h ago from CaughtOffside.com

Former Premier League midfielder punched by...

Two former Premier League stars were among the players involved in a...
9m ago from SportsKeeda.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.