From Bitcoin touched an all-time high of $68,000 last year, the cryptocurrency market began a steep decline that today puts it below $20,000. And not only digital currency users are affected, but also foreigners. As is the case with Miami Heat.
The current economic outlook is bleak, largely due to the potential bankruptcy of one of the world’s largest “banks”: FTX. The platform led by the controversial Sam Bankman Fried is one of the main sponsors of the NBA franchise and is the name of its stadium: American Airlines Arena was renamed FTX Arena.
In 2019, Miami-Dade County signed an agreement with the exchange through 2040. for a whopping $135 million. According to the Miami Herald, the franchise planned to receive 2 million per season. With the crisis that FTX is going through, it is likely that the agreement will not be lost and that a new sponsor will enter the scene.
The contract signed in 2021 was one of the largest in history and comparable to the Toronto Raptors/Maple Leafs with Scotiabank (639 million over 21 years), the New York Giants/Jets with MetLife (425 to 625 million over 26 years), or the New York Mets with Citi (400 million over 22 years).
“This opportunity is more than putting our name on an iconic building. It’s an opportunity to bring value to the growing and diverse community of Miami and surrounding cities.” Sam Bankman-Fried said then.
What happened to FTX?
Binance, the main exchange in the crypto market, partnered with the expansion of FTX in 2019 and received more than $500 million in FTT, the platform token. After some suspicious and dubious dealings by Bankman-Fried were revealed, Changpeng ZhaoCEO of Binance, has indicated that he will sell his position.
This announcement caused a cascade of reactions: more than $450 million came out of FTX, which could only stop the exodus by banning withdrawals, which goes against the cryptocurrency’s philosophy of freedom. The price of FTT also collapsed and in a week lost 80% of its value.
“Never use a token you have created as collateral. Don’t take out loans if you have a cryptocurrency business. Don’t use the capital ‘effectively’. You have a large inventory. Binance has never used BNB as collateral and we have never taken on debt.” wrote CZ, recommending how to act on SBF.
“Liquidating FTT is just post-exit risk management, learning from LUNA. We gave support before, but we don’t plan to make love after the divorce. We are not against anyone. But we will not support people who push other industry players behind their backs. It is not a move against a competitor. Our industry is at its peak, and every time a project fails publicly, it hurts all users and all platforms.” closed CZ as posted Bitcoin Mexico.
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On the evening of December 25 and the night of December 26, five Christmas games were traditionally held as part of the NBA regular season.
The most important match of the match day was played in Oklahoma, where the Thunder hosted San Antonio.
The home team started the game better and were ahead for most of the first quarter, but they missed a move 0:11 into the quarter, allowing Spurs to take the lead 41:36. Oklahoma was unable to take the lead after that, but San Antonio maintained its lead by keeping the game under control and eventually won 117-102.
The Spurs have won all three games against the Thunder this season, while Oklahoma has lost just two of the other 28 games.
The most productive player of the match was Fox, who brought 29 points to San Antonio, while Vembanyama also scored a double-double with 19 points and 11 rebounds.
The Lakers played Houston at home and suffered a crushing defeat.
The fate of the match was decided in the first quarter, when the Rockets won by 12 points (25:37). Afterwards, they increased their advantage by completely controlling the course of the match and eventually won with a score of 119:96.
For Houston, Thompson scored 26 points and Shengyun had a double-double with 14 points and 12 rebounds.
Denver and Minnesota closed out game day.
The first half of the match ended in a draw. Neither team managed to take a lead of more than 9 points, and Denver entered the big break with a 2-point lead at 57:55. In the third quarter, the Nuggets made an attack of 6:0 at the beginning and 10:2 in the middle, reaching a 16-point lead, and at the end of the quarter they were ahead +15 – 90:78. The Timberwolves did not give up and made a 16:2 move midway through the fourth quarter, reaching a lead of 107:108. This gave fans a tense ending; Edwards hit a three-pointer 2 seconds before the siren, sending the game into overtime at 115:115. And there Jokic played a decisive role and scored 18 points in 5 minutes, allowing the Nuggets to win 142:138.
Jokic scored 56 points in the NBA on Christmas Day, falling just four shy of Bernard King’s record. Nikola also recorded a triple-double with 16 rebounds and 15 assists. Murray had a double-double with 35 points and 10 assists.
NBA. Regular season. Christmas Day, 25-26 December
New York – Cleveland – 126:124 (23:38, 37:20, 24:38, 42:28)
I am a sports journalist who has written for various websites and magazines. I currently work as an author at Sportish, a news website that covers sports news. My main focus is writing about soccer, rugby and other sports in the world.
14 games of the NBA regular season were played on the night of December 23-24.
“Utah” hosted “Memphis” and in the middle of the second quarter they were ahead by 15 points at 50:65, but then they made a move at 17:4 and returned to the match 67:69. In the third quarter, the Jazz managed to take the lead with 71:69 and the game was leveled, but the Grizzlies added points at the end of the quarter and took the lead again with 109:101 and then calmly maintained the advantage with 137:128.
Svyatoslav Mikhayyuk The player, who was in Utah’s top 5 and played 22 minutes, recorded 9 points (4/4 free throws, 1/4 two-pointers, 1/5 three-pointers), 4 rebounds, 3 assists, 3 steals, 1 turnover and 1 foul.
The most productive player of the match was Aldama, who scored 37 points for Memphis, while Spencer also recorded a double-double, adding 11 points and 13 assists.
In the main match of game day, San Antonio unexpectedly defeated Oklahoma.
During the three quarters, there was an even contest in which no team could gain a lead of more than 8 points, and the leader changed 16 times. The fate of the match winner was decided in the fourth quarter, and the 9:0 attack of the home team was effective in this, and then the advantage reached 12 points (98:86). San Antonio then controlled the course of the game and confidently cruised to victory, gaining an advantage of 130:110.
The top scorer of the winning team was Johnson, who scored 25 points, while Castle scored 24 points for Spurs.
I am a sports journalist who has written for various websites and magazines. I currently work as an author at Sportish, a news website that covers sports news. My main focus is writing about soccer, rugby and other sports in the world.
Version Forbes announced its annual ranking of the world’s most expensive sports teams.
NFL franchise Dallas Cowboys, estimated to be worth $13 billion, has led the pack for the ninth year in a row.
While NBA Golden State Warriors ranked second with a valuation of $11 billion, another representative of American football, Los Angeles Rams (10.5 billion), was in the top three.
The top 10, as last year, includes only American teams from the NFL and NBA. There are seven NFL clubs in the top 10 overall, which Forbes analysts attribute to the league’s large-scale television contracts.
Among football clubs, Real Madrid remains the most expensive – the Spanish giant ranked only 20th with a value of $6.75 billion.
Also in the top 50 are Manchester United (24th, 6.6 billion), Barcelona (42nd, 5.65 billion) and Liverpool (48th, 5.4 billion). In total, only four football clubs are represented in the top 50 rankings.
Formula 1 representatives also returned to the list – Ferrari (26th place) and Mercedes (34th).
The 20 most valuable sports teams in the world according to Forbes
I am a sports journalist who has written for various websites and magazines. I currently work as an author at Sportish, a news website that covers sports news. My main focus is writing about soccer, rugby and other sports in the world.
