The Miami Heat have terminated their business relationship with FTX

FTX Arena is no more.

The Miami Heat announced on Friday night that it was ending its relationship with the cryptocurrency company after it went bankrupt this week. It is now searching for a new naming rights partner for the arena.

“The reports about FTX and its affiliates are extremely disappointing,” the Heat said in a joint statement with Miami-Dade County. “Miami-Dade County and the Miami Heat are immediately taking action to terminate our business with FTX, and we will be working together to find a new naming rights partner for the arena.”