Miami Heat Arena Finally Gets New Sponsor After FTX Blow Up

FTX’s name gets replaced by Kaseya Ltd., a Miami-based software company. On the other side, FTX Vietnam customers see a ray of hope.

According to a Bloomberg report, Miami Heat Arena will be renamed Kaseya Center for the next 17 years. After the FTX collapse, the team and Miami-Dade County terminated a 19-year-old contract worth $135 million with Sam Bankman-Fried’s company.

Eric Woolworth, the head of business operations for Miami Heat, says, “The industry that Kaseya is in has a much longer history and is more stable than crypto.”

Kaseya’s Chief Executive Officer (CEO) believes that the $117 million deal will help the company become better known and attract talent.

FTX Vietnam Customers Receive Email for Refund

According to a Sunday report from Vietnam’s local publication – VNExpress, FTX customers have received emails seeking confirmation of the balance. Hoang Quan, an FTX Vietnam user, said, “At first, I thought it was a scam email, but after many Vietnamese FTX users spoke about a refund email, I felt safe to open it and click on the confirmation link.”

The community has reported that the balance was accurate. However, there is no tentative date on when the customers would be returned their funds.

Bankruptcy Team Tries to Make Depositors Whole

The development comes in as the bankruptcy team led by the CEO John Ray III has been trying to recover the funds and make the depositors whole.

Recently, they clawed back over $400 million from a Bahamas-based hedge fund, Modulo. The OKX exchange is also returning $157 million in frozen assets from accounts linked with FTX.

In a separate development, FTX’s law firm Fenwick & West faces a lawsuit for allegedly helping Sam Bankman-Fried conduct massive fraud.

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