FTX
FTX was a leading cryptocurrency exchange and hedge fund that collapsed amid massive fraud. It briefly positioned Miami as a key hub before its 2022 bankruptcy.
Miami Connection
FTX boosted Miami's crypto profile through its planned U.S. headquarters relocation, $135 million arena naming rights deal, and executive involvement in the local tech community, accelerating South Florida's emergence as a crypto hub. The company listed over 170 Florida entities as potential creditors post-collapse, including Miami-Dade County, Heat star charities, nightclubs like LIV, and Brickell office towers, highlighting extensive local business ties. Though the bankruptcy terminated the arena deal with $17 million owed to the county, FTX's brief presence contributed to economic buzz before its downfall.