Miami Heat arena drop FTX

After FTX filed for bankruptcy on Friday, the Miami Heat's home arena will no

longer have the name of the cryptocurrency exchange. The basketball team

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announced it was seeking for a new naming sponsor for the structure.

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A corporation that was once the darling of the cryptocurrency industry

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FTX and roughly 130 of its companies abruptly fell from

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glory when they voluntarily filed for bankruptcy.

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For $135 million over 19 years, FTX purchased the

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naming rights to the Bayside Arena in March 2021.

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