FTX's multiple large sponsorship transaction amounts exposed, totaling nearly $167 million

2023-10-18 09:09:50

ChainCatcher news, according to The Block, based on court documents presented in the criminal trial of former FTX CEO Sam Bankman-Fried, FTX entered into massive sponsorship deals with several major brands. Among them, "League of Legends" developer Riot Games agreed to receive nearly $100 million in sponsorship over seven years, while the Tomorrowland music festival is set to receive approximately $42 million in sponsorship before 2026. Additionally, the Coachella music festival, held annually in Southern California, signed a $25 million deal with FTX.

It is reported that the details disclosed this time reveal a large number of sponsorship deals made by Sam Bankman-Fried during the cryptocurrency market bull run, some of which were halted after FTX announced its bankruptcy.

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