Although the FTX crypto exchanger suffered an overnight destruction, the Mercedes Formula One team still did not remove the FTX company logo from its racing cars.
However, Mercedes informed that it is still monitoring the situation and signaled that it may end the agreement if the crisis continues.
For now, the cars driven by Lewis Hamilton and George Russel still have the FTX emblem during the Sao Paulo Grand Prix at the weekend.
As a warning, Formula One Mercedes insists that the situation can change otherwise if FTX refuses to solve the liquidity problem as soon as possible.
It is understood that Mercedes has signed an agreement with FTX in 2021 to promote the brand and launch a non-fungible token (NFT) collection for its fans.
In fact, many international races have also partnered with digital asset companies over the past few months to delve into the crypto market.
For example, Crypto.com has collaborated with Formula One to serve as a Global and Inaugural Partner including becoming an Official Partner of the Miami Grand Prix in February this year.
Apart from that, Formula One is said to have delved into the world of crypto since August by filing NFT trademarks as well as digital assets for the Las Vegas Grand Prix event.
This follows because they intend to offer virtual goods, virtual clothes, headphones, sports equipment, digital art, souvenirs and others to their fans.
In general, cryptocurrency is a new modern technology that will develop and grow rapidly in the next few years, comments an Austrian billionaire motoring executive, Toto Wolff who is also a former racing driver.
