The crypto exchange, FTX, is struggling with a significant financial 

shortage that has shaken up the market for digital currencies.

The Mercedes-AMG Petronas Formula One team said it is discontinuing its collaboration with FTX.

Days before the racing team is scheduled to race in the

So Paulo Grand Prix in Brazil, a Mercedes official stated the company

 is pausing its sponsorship agreement "as a first step."

As cryptocurrency values have risen in recent years,

a large number of athletes and celebrities have inked sponsorship deals with FTX