TSM terminates FTX deal

North American Esports giant Team SoloMid formally ended its partnership with major cryptocurrency exchange FTX after it filed for Chapter 11 bankruptcy recently.

In a statement, TSM spokesperson Gillian Sheldon said the FTX branding will no longer appear on their jerseys, social media platforms and marketing collaterals.

“FTX branding will no longer appear on any of our organization, team and player social media profiles, and will also be removed from our player jerseys,” Sheldon said.

“This process may take some time to complete as some social platforms have made changes to their product features.”

It can be remembered that TSM announced a ten-year naming rights sponsorship deal with FTX in 2021 amounting to a staggering $210 million — the largest partnership that the Esports industry has seen in history.

Initial reports stated that FTX would be acquired by its rival Binance but the deal collapsed when new information surrounding the former’s finances came to light.