The Warriors are putting a pause to all FTX-related promotional assets in the wake of the cryptocurrency firm filing for bankruptcy.
A Jordan Poole bobblehead given to the first 10,000 fans at Monday’s game against the San Antonio Spurs, which was planned far in advance to last week’s news, would be the last FTX promotion in connection with the Warriors, the team said.
All other in-arena promotions and advertisements have been removed for the foreseeable future.
The news comes three days after the Miami Heat announced it was ending their naming rights deal with the embroiled cryptocurrence exchange, which filed for Chapter 11 bankruptcy protection last week after it didn’t have enough cash on hand to cover customers rushing to withdraw funds. The Mercedes Formula One team also suspended its partnership agreement with the firm.
The quick collapse of FTX, one of the world’s largest cryptocurrency exchanges until recently, could mean celebrity backers, including Stephen Curry and Tom Brady, could “lose big,” according to MarketWatch. FTX is now under investigation for potential sercurities violations, AP previously reported.