The Mercedes Formula One team said on Friday they had suspended a partnership agreement with troubled cryptocurrency exchange FTX ahead of the season's penultimate race in Brazil.
FTX, one of the world's largest crypto exchanges, is scrambling to raise billions in funds to stave off collapse while regulators have stepped in.
Mercedes signed a sponsorship deal with FTX in September, 2021 when they were the reigning champions.
"As a first step, we have suspended our partnership agreement with FTX," a team spokesman said.
"This means the company will no longer appear on our race car and other branded assets from this weekend. We will continue to monitor closely the situation as it evolves."
The season ends in Abu Dhabi on 20 November.
Mercedes, with seven times world champion Lewis Hamilton and fellow-Briton George Russell, have yet to win a race this season.
Mercedes has suspended its sponsorship deal with FTX and will remove the company's logos from the cars at the Brazilian Grand Prix ??
— Motorsport.com (@Motorsport) November 11, 2022
?#F1 #Motorsport #BrazilGP pic.twitter.com/N02uLt1DAF