TSM Suspends $210 Million FTX Partnership
North American esports organization TSM has suspended their reported $210 million partnership with FTX following the rapid collapse of
North American esports organization TSM has suspended their reported $210 million partnership with FTX following the rapid collapse of the company and their immediate filing for Chapter 11 bankruptcy in the United States.
TSM issued their own official statement back on November 13th, saying that the organization was “consulting legal counsel to determine the best next steps to protect our team, staff, fans, and players.”
On November 16th, TSM put out another statement, via Twitter:
“After monitoring the evolving situation and discussing internally, TSM is suspending our partnership with FTX effective immediately. This means that FTX branding will no longer appear on any of our org, team, and player social media profiles, and will also be removed from our player jerseys. This process may take some time to complete as some social platforms have made changes to their product features,” the company said.
“TSM is a strong, profitable, and stable organization. We forecast profitability this year, next year, and beyond. The current situation with FTX does not affect any part of TSM’s operating plan, which was set earlier this year.”