Just hours after the ailing cryptocurrency exchange filed for bankruptcy, Miami-Dade County said it would suspend its commercial ties with <a href="https://www.cryptoknowmics.com/news/buterin-breaks-silence-on-ftx-claims-issue-deeper-than-fees">FTX</a> and withdraw the company's name from the famous arena, home of the NBA's <a href="https://www.cryptoknowmics.com/news/blockchain-start-up-chain-announces-collaboration-with-miami-heat">Miami Heat</a> Downtown Stadium.
<h2>Miami to Discontinue FTX</h2>
In a joint <a href="https://www.nba.com/heat/news/miami-dade-county-and-miami-heat-statement-on-ftx" target="_blank" rel="nofollow noopener">declaration</a>, Miami-Dade County Mayor Daniella Levine Cava and the Miami Heat stated that they were immediately taking measures to discontinue the commercial arrangements with FTX and that they would be cooperating to locate a new naming rights partner for the arena. The information on FTX and its affiliates is discouraging.

The facility, situated in the center of downtown Miami on Biscayne Bay and offers events other than basketball games, such as operas and seminars, is now known as the FTX Arena after a $135 million sponsorship deal agreement was revealed and inked last year. The American subsidiary of <a href="https://www.cryptoknowmics.com/news/former-cftc-commissioner-jill-sommers-joins-ftx-us-derivatives-board">FTX.US</a>, which was listed in the <a href="https://www.cryptoknowmics.com/news/bitfinex-cto-publishes-proof-of-reserve-amid-during-bankruptcy-failure">bankruptcy</a> case, has made significant investments in the county and recently designated the town as its headquarters.

Miami to Remove FTX Moniker From Famous Downtown Stadium

Miami-Dade County said it would suspend its commercial ties with FTX and withdraw the company's name from the home of the NBA's Miami Heat Downtown Stadium.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Miami to Remove FTX Moniker From Famous Downtown Stadium

Top Picks