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F1 News: Mercedes set to lose main sponsor as crypto partner goes bankrupt

Mercedes looks almost certain to lose one of its sponsors – FTX – as the Crypto Exchange company faces financial catastrophe.

The crypto exchange FTX saw investors withdraw over $6 billion in the past three days, the company facing bankruptcy.

As the situation continues to evolve, all indications suggest that FTX could go bankrupt very soon – with the CEO admitting on social media that the situation is grim.

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