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    FTX has signed a new seven-year sponsorship arrangement with the LCS.

    TSM was recently forbidden from using FTX as part of its name in the LCS, which was disclosed just hours after TSM signed a 10-year, $210 million partnership with the exchange.

    TSM has rebranded their name on social media and in several titles where cryptocurrencies are a legal sponsorship category, but in the LCS it has remained exclusively known as "TSM."

    According to a source, under the terms of the agreement, Riot Games will be entitled to remove the FTX branding from assets used in foreign broadcasts in countries where cryptocurrency and its exchanges are either strictly controlled or other factors are taken into account. This contract varies from TSM's in that the new logo and jersey patch would not be able to be removed from the on-demand broadcast.

    FTX will sponsor a variety of LCS segments and graphics, including the best player and gold-related graphs and data. FTX will join the likes of Mastercard, Bud Light, Grubhub, and ROCCAT as LCS sponsors. The financial parameters of Riot's agreement with the cryptocurrency exchange were not revealed. In the next weeks, the new relationship is scheduled to be announced.

    In 2021, the cryptocurrency exchange has gone on a sports and entertainment spending binge. The company became the first cryptocurrency exchange to win a bid to become the new naming rights partner of the Miami Heat's home, formerly known as the American Airlines Arena, earlier this year. Tom Brady, a seven-time Super Bowl champion quarterback, and supermodel Gisele Bündchen became stockholders in FTX in June. The company recently inked an agreement with the Major League Baseball, which means that baseball umpires will now wear the FTX insignia on their sleeves. The company stated today that it will enter the non-fungible token (NFT) industry for sports and entertainment.

    FTX is a cryptocurrency exchange situated in San Francisco that operates two independent exchanges, FTX and FTX.US, as well as its own digital token, FTX Token (FTT). Due to specific cryptocurrency limitations in the United States, its American site is a scaled-down counterpart of its main exchange.