The Mercedes Formula 1 team unveiled that they will be retaining the branding of the exchange platform, FTX, which is undergoing crisis at the moment, on their cars in the upcoming weekend’s Sao Paulo Grand Prix in Brazil while keeping an eye on the developments.
One of the renowned cryptocurrency exchanges, FTX is facing problems due to a sudden surge of withdrawals from customers and is looking forward to raising about $9.4 billion from investors and rivals, as per reports.
In September 2021, Mercedes-AMG Petronas signed a new long-term association with FTX. According to a spokesperson from the team, they are assessing the conditions and the logo of the crypto exchange platform will be featured on Lewis Hamilton and George Russell’s race cars in the meantime.
The penultimate round commences this weekend at Interlagos and the season will conclude on November 20 in Abu Dhabi.