Binance pulls out of FTX bailout leaving sponsorship deals in jeopardy

FTX Arena, home of the Miami Heat. (by Michael Reaves/Getty Images)
FTX Arena, home of the Miami Heat. (by Michael Reaves/Getty Images)

The future of cryptocurrency exchange FTX and its raft of high-profile sports sponsorship and athlete endorsement deals has become increasingly uncertain after rival operator Binance backed out of a rescue deal.

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