The Miami Heat know all about the struggles of cryptocurrency after the FTX bankruptcy
Last year Miami Heat guard Kyle Lowry appeared in one of the several cryptocurrency commercials during the Super Bowl.
Lowry was in an ad for BitBuy, a Canadian-based trading platform because of his ties to the Toronto Raptors. A year later, the NFL’s biggest game will not feature any crypto-based commercials.
The reason is simple: the industry is struggling.
No NBA team knows that more than the Heat. They recently stripped the name FTX off their arena because the company filed for bankruptcy last November and is involved in a lawsuit for fraud and money laundering.
The Heat have since changed the name to Miami-Dade Arena and severed ties with the company. The good news for the Heat is forward Jimmy Butler will appear in a Caddyshack-themed Super Bowl ad for a second straight for Michelob Ultra.
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