Crypto crash hits the NBA

FTX's collapse affects the NBA

The Golden State Warriors, Miami Heat, Naomi Osaka, the MLB, Tom Brady, Steph Curry, and other prominent organisations and sportsmen are just a few of the associations that FTX has.

FTX, the troubled cryptocurrency exchange, has filed for bankruptcy

• Following a separation, The Miami Heat will try to secure a new naming rights agreement. The Mercedes F1 team has likewise put a stop to all future dealings with FTX.

· Other sports figures have deals with FTX but have not released statement

FTX, one of the top crypto exchanges, stated they are declaring for bankruptcy and CEO Sam Bankman-Fried has resigned

The Miami Heat announced  that they are trying to immediately end their commercial ties with the exchange.

The NBA is affected by the cryptocurrency crisis! Miami Heat said it is "taking urgent measures to TERMINATE its engagement" with the failing exchange, becoming the latest company to sever ties with FTX.