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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.

TSM Terminated $210 Million Funded Agreement By FTX 2

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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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.