The developers of the popular MOBA game League of Legends fear that a connection with the former head of the collapsed FTX crypto exchange could have a bad effect on the company’s reputation.
Video game developer Riot Games is set to terminate its League of Legends Championship Series sponsorship deal with bankrupt cryptocurrency exchange FTX. The company said that this partnership causes reputational damage to Riot.
In the aftermath of the FTX crash, it was Sam Bankman-Fried’s love of League of Legends that caught the attention of players – the former head of the crypto exchange reportedly became famous for playing it during business meetings. Sequoia Capital co-founder Neeraj Arora revealed shortly after the collapse of the crypto exchange that Bankman-Fried was playing LoL even during their first Zoom meeting.
In 2021, on a Twitter thread, the former head of FTX boasted that he plays the game more than anyone could ever expect from him. Businessman praised
the game, stating that it has the ability to draw players in.
Now Riot Games is asking the court to terminate the deal with the crypto exchange:
“An image of Mr. Bankman-Freed playing League of Legends is being published along with text describing his negligent handling of business meetings with investors and irresponsible handling of corporate funds. All this creates the impression that his interest in the game revealed not a desire to be closer to people, as one might think before, but infantilism, ”the document says.
Earlier, Reuters reported that the charges brought against Sam Bankman-Freed, promise him a prison term of up to 115 years. According to other information, the businessman could face up to 20 years in prison.
Source: Bits
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