The Mercedes Formula One team said on Friday they had suspended a partnership agreement with troubled cryptocurrency exchange FTX ahead of the season’s penultimate race in Brazil.
FTX, one of the world’s largest crypto exchanges, is scrambling to raise billions in funds to stave off collapse while regulators have stepped in. read more
Mercedes signed a sponsorship deal with FTX in September, 2021 when they were the reigning champions.
“As a first step, we have suspended our partnership agreement with FTX,” a team spokesman said.
“This means the company will no longer appear on our race car and other branded assets from this weekend. We will continue to monitor closely the situation as it evolves.”
The season ends in Abu Dhabi on Nov. 20.
Mercedes, with seven times world champion Lewis Hamilton and fellow-Briton George Russell, have yet to win a race this season.
More Stories
Bavuma Ton Leads Proteas To Series Win Over England
Brighton Strike late to knock holders Liverpool out of FA Cup
Djokovic Gave Everything To Overcome Injury – Ivanisevic
Emotional Djokovic Hails Biggest Victory Of His life
Ronaldo’s Saudi Switch Another Symbol Of Chinese Decline
Lakers Fume Over Referee Decision In Overtime Loss To Celtics
Tsitsipas Thriving After Wake-Up Call – McEnroe
Mind Your Language! Wales Coach Gatland Raises Concerns Over Netflix Documentary
Son Hits Double For Tottenham And Casemiro Bags Brace For Man Utd In Cup Wins
Casemiro Scores Twice As Man Utd Beat Reading In FA Cup
Salah Struggling As Liverpool’s Front Three No longer ‘Well-Drilled’ – Klopp
FIA Defends Ben Sulayem After Reported Sexist Comments