TechFlow reported, according to The Block, court documents revealed that FTX had agreed to pay nearly $100 million in sponsorship fees over seven years to Riot Games, the developer of "League of Legends." After FTX declared bankruptcy, Riot Games attempted to withdraw from the deal by the end of last year.
The documents also showed that FTX committed approximately $42 million to the Tomorrowland music festival through 2026. Additionally, FTX signed a $25 million agreement with Coachella, the annual music festival held in Southern California.
Prosecutors presented this list of dozens of sponsorship agreements signed by FTX during the cryptocurrency bull market to demonstrate SBF's pattern of poor financial decisions and reckless spending.
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