Last week, one of the Mercedes team’s biggest sponsors, cryptocurrency exchange FTX, filed for bankruptcy and stopped paying its bills. In Abu Dhabi, team leader Toto Wolff said that it will not be easy to regain confidence in this business, although he personally believes in it.
Toto Wolff: “The situation is very unpleasant. We partnered with FTX because they were one of the most reliable and solid, financially stable partners. And suddenly we see how a cryptocurrency company can just disappear in a few days.
The bankruptcy of FTX has taken us by surprise. What has happened shows how fragile this sector is. So far it has not been regulated in any way, but such regulation should be because many customers, investors and partners, like us, now have a complete misunderstanding of what is happening.
Source: F1 News
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