Sam Bankman-Frie

The near collapse this week of FTX, one of the largest cryptocurrency exchanges, has sent shockwaves throughout the crypto startup and investment community. But the fallout could also spread to the sports industry.

Like other crypto companies, FTX has invested heavily in sports sponsorships, including partnerships and naming rights in professional basketball, baseball and Formula One racing. Now, the company is in turmoil. On Tuesday, it said it would be acquired by rival Binance after experiencing a sudden liquidity crisis, but the deal was called off Wednesday by Binance after the firm conducted a financial review of FTX.

The uncertainty around the future of FTX raises new questions over what happens to its many sports deals.