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Major League Baseball and cryptocurrency exchange FTX struck a partnership prior in 2021, but after the company filed for bankruptcy in early November, the deal with MLB isn\u2019t likely to continue.<\/p>\n
The first-ever deal with a professional sports league and a cryptocurrency exchange was a groundbreaking move, but after just 17 months, MLB commissioner Rob Manfred explained the league\u2019s decision based on the news of FTX\u2019s bankruptcy fallout, via Joon Lee of ESPN<\/a>:<\/p>\n Additionally, Manfred said FTX \u2014 the cryptocurrency firm that collapsed in recent weeks \u2014 would not return as a sponsor in 2023. FTX previously appeared on the uniform patches for umpires during the 2022 season.<\/p>\n \u201cThe FTX development was a little jarring,\u201d Manfred said. \u201cWe have been really careful moving forward in this space. We\u2019ve been really religious about staying away from coins themselves as opposed to more company-based sponsorships. We think that was prudent particularly given the way things unfolded. We will proceed with caution in the future.\u201d<\/p>\n<\/blockquote>\n Several MLB stars including Shohei Ohtani and former slugger David Ortiz were mentioned in a class-action lawsuit against FTX brand ambassadors, and the future and developments of that should be monitored going forward.<\/p>\n MLB recently struck a deal with Charlotte\u2019s Web, which would mark the first CBD sponsorship with a major pro sports league. The league hasn\u2019t shied away from attempting to get ahead with corporations that appear to be on the up & coming, and they\u2019ll hope to avoid another disaster as they did with FTX and their fallout.<\/p>\n The post Major League Baseball To Cut Ties With Cryptocurrency Firm FTX In 2023<\/a> appeared first on Angels Nation<\/a>.<\/p>\n<\/p><\/div>\n \t\t\t(function(d, s, id) {\n
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