Miami Heat will rename FTX Arena after cryptocurrency exchange collapses

As investors, observers and government officials sort through this week’s stunning implosion of FTX, one of the world’s largest cryptocurrency exchanges, the Miami Heat on Friday announced plans to end its relationship with the firm and rename its home venue, FTX Arena.

“Miami-Dade County and the Miami Heat are immediately taking action to terminate our business relationships with FTX, and we will be working together to find a new naming rights partner for the arena,” the team said in a statement, calling reports of FTX’s demise “extremely disappointing.”

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