Ftx Arena Shockingly No Longer
FTX Arena was named after a cryptocurrency trading platform (Exchange). The trading platform was popular and promoted by celebrities and athletes. However, recently in late 2022 the owner Sam Bankman Fried (SBF) was exposed for fraud and stealing other people's money. Learn more about Sam Bankman here.
Furthermore, Ftx was a leading digital asset exchange. They offered options, leveraged tokens, and a user-friendly interface. Ftx has a unique feature with high liquidity. Hence, this allows for fast execution of trades.
Where is Located?
Ftx allows the money for to be purchased. This arena is located in Miami Florida. Home of the basketball team called the Miami Heat. Miami heat Arena will be used as sponsorship for ftx. However, the financial gains for the Miami Heat Arena were $130 Million Dollars for 19 years. Therefore, Ftx bought the right to rename the Miami Heat Arena to Ftx Atena in March 2021. Less than 2 years later, the ftx company is no longer. On the other hand, it has been made recently that ftx will be making a comeback. This arena is made to bring more eyes to ftx company.
Who are the Miami Heat?
First, Miami Heat basketball team is a good basketball team located in Miami, Florida. Second, they have a good history and solid entertainment business. Miami Heat is a championship team and city. Any business that is associated with them will have good exposure. Exposure to boost the business to the next level.
What is next?
Furthermore, the ftx arena contract was terminated due to its financial situation. This contract was little more than 1 year. Now, the new name as of recent is the Miami Dade Arena for now. This will be till someone else wants to buy the right to the Miami Heat Basketball Team Arena. The new individual or business will have a clean slate since the contract name has been terminated due to legal issues with ftx. Finally, what is next for Sam Bankman Ftx is here
Conclusion:
Ftx arena used the Miami heat arena to get exposure. However, the exposure did not last too long. They did get exposure to athletes and celebrities. Furthermore, their exposure was not for good and they owe people money due to fraud. Be careful who you listen to and do not believe in what other people promote. Invest what you can lose and do your homework to see if it is really legit and does this benefit you.
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