Miami Heat Arena Finally Has A New Sponsor After FTX Blow Up

The FTX name is replaced by Kasya Ltd., a Miami-based software company. On the other hand, customers of FTX Vietnam are seeing a silver lining.

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

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

Kasaiya’s chief executive officer (CEO) believes the $117 million deal will help the company gain better recognition and attract talent.

FTX Vietnam Client Receive refund email

According to a Sunday report from Vietnam’s local publication – VNExpress, FTX customers have received balance confirmation emails. Hoang Quan, a FTX Vietnam user, said, “At first, I thought it was a scam email, but after many Vietnamese FTX users talked about the 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 as to when the amount will be returned to the customers.

Bankruptcy team tries to make depositors whole

The development comes as a bankruptcy team led by CEO John Ray III is trying to recover funds and make depositors whole.

Most recently, he returned over $400 million from Modulo, a Bahamas-based hedge fund. OKEx Exchange is also returning $157 million in frozen assets from accounts linked to FTX.

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

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