FTX is reportedly one vote away from the naming rights to the Miami Heat's arena

Cryptocurrency • March 23, 2021, 3:07PM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

Cryptocurrency exchange FTX is one step away from winning the naming rights to the Miami Heat's sports arena, according to a report by the Miami Herald. 

If approved by Miami-Dade County officials, the arena would be renamed the FTX Arena, stripping the logo of the current naming rights holder American Airlines. American Airlines have paid to be the namesake of the basketball stadium for nearly two decades, the Herald reported. 

The Miami-Dade County Commission is meeting Friday morning to vote on the agreement, the report added. It's not clear how much FTX, which operates crypto derivatives markets, will pay for the rights. 

The Miami Herald first reported that the deal was in the works on March 12. The deal would be the first of its kind for a cryptocurrency industry company. 

TAGS
FTX

AUTHOR

Frank Chaparro profile picture Frank Chaparro

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

See More

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Frank Chaparro