Source: REUTERS/RULA ROUHANA
[Saba Sports News] According to reports from US media, the F1 Mercedes
racing team is currently facing a lawsuit from investors due to its previous
sponsorship of the cryptocurrency FTX. Investors claim that they suffered
significant losses after investing in FTX, and they argue that they were
deceived by the promotion of FTX through Mercedes. They hold Mercedes
responsible as the promoter of the cryptocurrency. In response, Mercedes-Benz
stated that the accusations from investors are unfounded, as their advertising
and sponsorship did not specifically encourage individuals to deposit funds
into an FTX account. Earlier this month, Sam Bankman-Fried, the founder of FTX
cryptocurrency exchange, was found guilty of multiple fraud and conspiracy
charges. He was accused of misappropriating billions of dollars from his own
customers. FTX was one of the largest cryptocurrency exchanges to collapse last
year, resulting in the loss of $8 billion in customer funds. The editor’s
perspective is that car companies should thoroughly investigate the background
of sponsoring companies, particularly those involved in cryptocurrency
technology, which has seen a surge in recent years. When accepting sponsorship,
it is crucial to be cautious, as investors often face significant losses when
such companies experience crises. It is expected that Mercedes-Benz will learn
from this experience after going through the lawsuit.