{"id":67978,"date":"2023-11-03T01:03:33","date_gmt":"2023-11-03T01:03:33","guid":{"rendered":"https:\/\/talkcelnews.com\/?p=67978"},"modified":"2023-11-03T01:03:33","modified_gmt":"2023-11-03T01:03:33","slug":"miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations","status":"publish","type":"post","link":"https:\/\/talkcelnews.com\/celebrities\/miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations\/","title":{"rendered":"Miami Heat's FTX Arena Naming-Rights Deal Terminated Amid Fraud Allegations"},"content":{"rendered":"

\"ftx<\/p>\n

FTX Arena is no more — the Miami Heat’s home will be scrubbed of the failed cryptocurrency exchange’s branding immediately, a judge ruled Wednesday.<\/p>\n

Sam Bankman-Fried<\/strong>‘s company bought the naming rights to the facility — formerly known as American Airlines Arena — in 2021 for $135 million … but as the exchange faces serious allegations of fraud and mishandling customer funds, the Heat and Miami-Dade County made it clear a change was necessary.<\/p>\n

Of course, FTX — which was one of the largest crypto exchanges in the world — filed for bankruptcy in November … and SBF has since been charged<\/strong> with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and more.<\/p>\n

\"Sam<\/p>\n

According to the Miami Herald<\/strong>, a federal bankruptcy judge terminated the agreement between the county and FTX as the investigation continues … bringing the deal to a screeching halt ASAP.<\/p>\n

In fact, the order states any signage displaying the FTX name will be removed immediately.<\/p>\n

The move was mutual, according to the report, as FTX’s new leadership also wanted to cancel the naming-rights deal.<\/p>\n

It was a short run for FTX Arena … but the move was all but inevitable.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FTX Arena is no more — the Miami Heat’s home will be scrubbed of the failed cryptocurrency exchange’s branding immediately,<\/p>\n","protected":false},"author":2,"featured_media":67977,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nMiami Heat's FTX Arena Naming-Rights Deal Terminated Amid Fraud Allegations - talkcelnews.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/talkcelnews.com\/celebrities\/miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Heat's FTX Arena Naming-Rights Deal Terminated Amid Fraud Allegations - talkcelnews.com\" \/>\n<meta property=\"og:description\" content=\"FTX Arena is no more — the Miami Heat’s home will be scrubbed of the failed cryptocurrency exchange’s branding immediately,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/talkcelnews.com\/celebrities\/miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations\/\" \/>\n<meta property=\"og:site_name\" content=\"talkcelnews.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-03T01:03:33+00:00\" \/>\n<meta name=\"author\" content=\"Louise\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/talkcelnews.com\/wp-content\/uploads\/2023\/11\/Miami-Heats-FTX-Arena-Naming-Rights-Deal-Terminated-Amid-Fraud-Allegations.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Louise\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/talkcelnews.com\/celebrities\/miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations\/\",\"url\":\"https:\/\/talkcelnews.com\/celebrities\/miami-heats-ftx-arena-naming-rights-deal-terminated-amid-fraud-allegations\/\",\"name\":\"Miami Heat's FTX Arena Naming-Rights Deal Terminated Amid Fraud Allegations - 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