Mercedes will keep running the logos of troubled crypto exchange firm FTX on its F1 car at the BrazilGP, despite the company facing bankruptcy Full story ⬇️
FTX is facing bankruptcy if it cannot raise billions of dollars to get itself out of a liquidity crisis that erupted at its affiliated Alameda Research company this week.team, collapsed after just 24 hours amid concerns about the scale of the financial hole FTX faced.
The troubles for FTX, one of the most high-profile crypto exchanges in the world, have triggered a meltdown in the crypto markets and pushed Bitcoin to its lowest price for two years. FTX’s founder and CEO Sam Bankman-Fried is still hoping that a rescue package can be put in place to save the exchange, but there are doubts about whether or not he will be successful. This has fuelled speculation that its partnership withPhoto by: New Revolution Media
FTX also tied up with the Mercedes team in a multi-year sponsorship deal that was announced last September. As well at FTX logos appearing on the car and drivers’ overalls, they have been working together on other projects, including NFT launches.
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