TSM Terminated $210 Million Funded Agreement By FTX

Affected by the collapse of FTX, e-sports company TSM has decided to terminate the sponsorship contract of hundreds of millions of dollars with the exchange.

The major esports sponsorship deal between FTX and TSM has failed to continue, the gaming and entertainment platform announced.

In June 2021, these two giants came to a huge deal worth $210 million each year, FTX agreed to finance $21 million, and this contract was signed for 10 years. Under the contract, FTX is entitled to change the name of the e-sports team to TSM FTX.

That historic collapse has caused countless consequences that until now have not been able to measure all the damage. Many celebrities have also deleted their connection to FTX online. Visa also severed ties with the exchange after it collapsed.

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