News Details

Mercedes retaining FTX logos on W13 amid crypto sponsor's collapse

The Mercedes F1 team has retained the presence on its cars in Brazil of sponsor FTX, the cryptocurrency exchange that was dealt a near fatal blow this past week. But the Brackley squad said on Thursday that it was closley monitoring its commercial partner's situation. FTX's sudden liquidity concerns led to a massive outflow of investors' funds, an event that sent shockwaves through the crypto world late on Wednesday. Meanwhile, crypto industry leader Binance, which had struck a deal to acquire and bail out FTX, backed out of its plan after disclosing that a review of FTX’s books had unearthed "mishandled customer funds". Furthermore, reports have emerged that FTX's massive...
Full Story »
1y ago from F1i.com 0
Share

You May Also Be Interested In...

Mercedes monitoring situation at bankruptcy-facing FTX

The Mercedes Formula 1 team said on Thursday they were keeping the...
1y ago from GrandPrix247.com

Two major sponsors set to leave F1

Nov.11 Two major sponsors in Formula 1 look set to exit the sport....
1y ago from OneStopStrategy.com

Mercedes: Racing in the mid-pack is an adjustment for...

Mercedes' Trackside Engineering Director, Andrew Shovlin admitted the...
1y ago from GrandPrix247.com

Formula 1 targeting new airline sponsor following...

Change is certainly in the air with Formula 1, following a report...
1y ago from Formula1News.co.uk

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Herta speeds to top of Fast Friday charts in Indy 500...

For the second consecutive day, the changeable central Indiana weather...

Siegel, Ericsson set to qualify for Indy 500 with...

Saturday is the first day of qualifying for the 108th running of the...

Popular On TotalWRC.com

Popular On GunnersToday.com

'My life flashed in front of me' – Arsenal...

Arsenal legend Ian Wright said his life 'flashed in front of him' when...
6h ago from CaughtOffside.com

Arsenal boss explains his reaction to Heung-Min Son's...

Mikel Arteta revealed his kids were running round with their heads in...
5h ago from CaughtOffside.com

'News to me' - Arsenal man laughs off exit reports

Arsenal goalkeeper Aaron Ramsdale appears to laugh off speculation...
4h ago from SportsMole.co.uk

Comments

Hottest News

FIA announce PUNISHMENT for Red Bull F1 star

One of Red Bull's Formula 1 drivers has been... Read More »
12h ago from GPFans.com

How does 2024 Indianapolis 500 qualifying work?

Check out your guide to how 2024 Indianapolis 500... Read More »
33m ago from RacingNews365.com

Verstappen Imola MISTAKES costly as Red Bull star handed...

Ferrari's Charles Leclerc came out on top in both... Read More »
6h ago from GPFans.com

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.