TSM is back to its roots.
North American organization TSM has ceased its partnership with cryptocurrency exchange FTX following liquidity chaos, it announced today.
In a statement, TSM said it will continue its operations as a profitable and stable esports organization regardless of the suspended partnership, which was worth $210 million in naming rights.
We forecast profitability this year, next year, and beyond,” TSM said. “The current situation with FTX does not affect any part of TSMs operating plan, which was set earlier this year.”
FTX, known as one of the largest cryptocurrency exchanges in the world, has undergone financial turmoil following a bankruptcy filing last week, which has stalled at time of writing.
This is a breaking news story with more details to follow. Updates will be added as soon as possible.