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Mercedes monitoring situation at bankruptcy-facing FTX
The Mercedes Formula 1 team said on Thursday they were keeping the branding of troubled cryptocurrency exchange FTX on their cars at this weekend's Sao Paulo Grand Prix in Brazil while watching developments. FTX, one of the world's largest crypto exchanges, has been buffeted by a rush of customer withdrawals and is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday. Mercedes, then the reigning Formula 1 Champions, signed a sponsorship deal with FTX in September, 2021. A team spokesman said they were evaluating the situation and branding would be staying on the race cars of seven-times world champion Lewis Hamilton and fellow-Briton George Russell...
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2y ago from GrandPrix247.com
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