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The aftermath of FTX bankruptcy
Sports teams and businesses may shy away from long-term deals with crypto firms to minimise their risks after troubled crypto exchange FTX filed for U.S. bankruptcy protection last week, industry experts told Reuters on Monday. FTX filed for bankruptcy on Friday in one of the highest-profile crypto blow-ups after traders withdrew $6-Billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal. The announcement had an immediate impact in the world of sport, where the exchange has a significant presence, with the Mercedes Formula 1 team suspending its partnership agreement ahead of the Brazilian Grand Prix. National Basketball Association side Miami...
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