Seemingly out of nowhere, the conversation around cryptocurrency became unavoidable, even in spaces you'd least expect. Take sports for example, where you wouldn't anticipate there to be a direct connection between everything from Ethereum and Bitcoin to touchdowns and 3-pointers, and yet, here we are.Since the first week of November, significant news in the cryptocurrency market caused an instant ripple effect on some of the most prominent athletes, franchises and leagues Taylor Hall Women Jersey in sports.FTX, a cryptocurrency exchange that had a heavy cro sover into the sports world, filed for bankruptcy, leaving several investors shortchanged.If you've seen FTX come acro s your TV or timeline but aren't yourself peddling in crypto and wondering why athletes like Tom Brady and Stephen Curry are connected, you've come to the right place. By definition, FTX is, "a cryptocurrency exchange that promotes the liquidity and transacting of coins and tokens." In layman's terms, it was a platform that allowed investors to buy, sell and trade digital currencies.FTX prided itself on its acce sibility and ease with which new investors could get involved, which was part of the company's main pitch into the world of sport. FTX tied itself in with well-known investors like Tom Brady and Stephen Curry, even using the two all-time greats in commercials to expre s the simplicity of FTX's platform to trade crypto.FTX promised excitement with an acce sible entry point into the often-times confusing world of cryptocurrency. The name at the center of FTX's collapse is the company's CEO, Sam Bankman-Fried.Bankman-Fried through his own separate trading firm, Alameda Research.This was significant because, , "The crypto exchange drastically underestimated the amount FTX needed to keep on hand if someone wanted to cash out. Trading platforms are required by their regulators to hold enough money to match what customers deposit. They need the same cushion, if not more, in the event that a user borrows money to make a trade. FTX did not have New Jersey Devils Men Jersey nearly enough on hand."This put FTX on the brink of bankruptcy , was prepared to make an effort to acquire FTX to keep the busine s running. Once Binance reviewed FTX's finances, it decided not to step in.Two days later, FTX plummetted from a $32 billion cryptocurrency monster to filing for Chapter 11 bankruptcy, vanishing reportedly $1 billion in customer funds.FTX was the largest cryptocurrency exchange tied to the world of sport.Breakdown of crypto sports sponsorships Adam Seaborn (@AHBSeaborn) Let's take a look at how it affected some of its most prominent investors. Brady and his partner, Gisele Bundchen, and both even appeared in commercials for the crypto exchange.Since the announcement of FTX's bankruptcy, Brady has of any mention of the former crypto giant. That included deleting 15 tweets mentioning FTX that had subsequently been retweeted by Bankman-Fried and changing his Twitter avatar from a laser eyes photo (a crypto reference) to a statue of himself. In September 2021, Curry signed a partnership with FTX that gave him an equity stake in the company and as you saw above, the company used the greatest shooter in NBA history as a global amba sador in their commercials and advertisements."I'm excited to partner with a company that demystifies the crypto space and Jack Hughes Women Jersey eliminates the intimidation factor for first-time users," .Curry's team, the Golden State Warriors, were also big investors in the space. FTX signed a $10 million sponsorship with the franchise, featuring the brand all over their new arena, Chase Center, as well as the franchise's G League team, the Santa Cruz Warriors, and NBA 2K League team, Warriors Gaming. Just last year, the Heat signed a 19-year, $135 million (!) deal with FTX for the naming rights to their stadium FTX Arena. Or should I say, formerly known as FTX Arena.After last week's news, Miami-Dade County and the Heat i sued a joint statement on FTX."The reports about FTX and its affiliates are extremely disappointing. Miami-Dade County and the Miami HEAT are immediately taking action to terminate our busine s relationships with FTX, and we will be working together to find a new naming rights partner for the arena. We are proud of the impact our Peace & Prosperity Plan sponsored by County Commi sioner Keon Hardemon and funded through the original deal is already having in preventing violence and creating opportunity for young people acro s Miami-Dade, and we look forward to identifying a new partner to continue funding these important programs in the years ahead. In June 2021 Scott Wedgewood Men Jersey , Major League Baseball signed a deal with FTX to become the "Official Cryptocurrency Exchange brand of MLB." The terms of the deal were never disclosed.MLB turned its umpires into FTX billboards as part of the deal, calling FTX its "first-ever umpire uniform patch partner. Marcus Johansson Kids Jersey "4-days ago, World Series umpires have FTX plastered all over them. Unreal. Blockchain Backer (@BCBacker) With the Astros recently crowned World Series champions and the 2022 season coming to an end,Major League Baseball has not made a statement on the subject yet. On Wednesday, in a federal cla s-action lawsuit filed against FTX.The lawsuit stated that FTX needed big names like Brady "to continue funneling investors into the FTX Ponzi scheme, and to promote and substantially a sist in the sale of the (accounts), which are unregistered securities.The lawsuit added that their "misrepresentations and omi sions make them liable" following FTX's collapse.Plaintiffs and consumers in the (suit) have been aggrieved by Defendants unfair and deceptive practices and acts of false advertising by paying into the Ponzi scheme that was the Deceptive FTX Platform and in the amount of their lost investments."Along with FTX CEO Bankman-Fried, Brady and his partner, Bundchen, the suit also named celebrities like Curry, NBA Hall of Famer Shaquille O'Neal, Red Sox legend David Ortiz, Angels superstar Shohei Ohtani and organizations like the Warriors and Mavericks.