FTX's Big Esports Bet: $310M in Sponsorships With Riot and TSM Before Crypto Collapse

FTX signed a 7-year, $100M sponsorship deal with Riot Games for its League of Legends esports competition.

FTX also signed a 10-year, $210M sponsorship deal with esports org TSM.

It's unclear how much FTX actually paid out before collapsing.

League of Legends was an obsession of FTX founder Sam Bankman-Fried.

Crypto sponsorships had become a new source of revenue for esports orgs before the crypto market downturn.