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The Street
The Street
By Ellen Chang Splashy endorsement and sponsorship deals by FTX now in doubt as cryptocurrency exchange seeks bailout from rival Binance. Sports teams welcomed the multi-million dollar partnerships in 2021 from cryptocurrency companies like FTX, an exchange to trade digital assets. The abrupt downfall and the pending acquisition of FTX, a popular cryptocurrency exchange, by Binance on Nov. 8, leaves the future of those partnerships up in the air. Investors have often been wary of companies purchasing naming rights to stadiums because of the large investment. Many of those those deals involving…