LCS, TSM sponsor FTX files for bankruptcy

With rumors swirling around the uneasy future of cryptocurrency, a large company with major stakes in the League of Legends esports scene has gone belly up.

FTX, a cryptocurrency exchange that holds significant deals with the LCS and esports organization TSM, is filing for bankruptcy, the company announced today. This comes after the company was nearly acquired by cryptocurrency exchange Binance earlier this week before FTX’s rivals decided to pull out of the deal due to several notable problems with the company.