FTX logos and promotional material still everywhere despite bankruptcy proceedings
Before its liquidity issues and bankruptcy filing in November, FTX was well known for its prolific stance on making sponsorship deals. Even with many in and out of the space now associating the exchange with failed financial institutions, traces of the promotional glitter bomb it has unleashed on the world aren’t likely to go away anytime soon.
In Abu Dhabi, attendees for the Gumball 3000 motor rally in November noted on social media that wristbands for the event and more than one of the vehicles bore FTX’s logo, as did advertisements around the city. The crypto exchange did not appear as a sponsor on the event’s website at the time of publication.
Race weekend in Abu Dhabi Didn’t know FTX also sponsored Gumball 3000. Lol good old days when I used to feel proud to see FTX man I’m in tears. My $ftt RIPGotta respect constant changes in crypto pic.twitter.com/PyG9XJuWhX
In 2021, the now infamous crypto firm inked a $135-million deal to rename the NBA Miami Heat’s stadium the FTX Arena until 2040. Following FTX’s bankruptcy filing, officials in Miami-Dade County on Nov. 22 filed a motion to terminate the naming rights agreement. A hearing on the matter is scheduled for Dec. 16, but at the time of publication, the FTX logo is still all over the Miami sports venue, leading to mockery online:
Lol hat a metaphor the best player on the team gets to blatantly travel while running near the FTX logo on the floor https://t.co/bLMgpkjM1V
Ouch! Just passed the Miami Heat arena- the FYX arena.#Web3 @FTX_Official pic.twitter.com/h3c6w3FiHg
Though the FTX Token (FTT) may not be something crypto users want to hang on to, the firm’s bankruptcy could increase the value of promotional merchandise. FTX sponsored the Formula 1 international racing
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