Binance, the world’s largest cryptocurrency exchange, canceled its sponsorship agreement with the Argentine Football Federation (AFA) after a year.
Binance, last year with the Argentine Football Federation, within the scope of a 5-year period, the Argentina national football team. global main sponsor and Argentina broke the title sponsor agreement of the professional football league. The 5-year deal was canceled after only 1 year.
Binance Argentina’s official social media account, which was recently made in the statement, Argentina Football Federation It was stated that the sponsorship agreement with the company was terminated. Binance, as the reason for this decision, made AFA contractually their obligations showed that he did not fully comply.
Binance has decided to end its relationship with the AFA (Argentine Football Association). We regularly evaluate the results of our worldwide partnerships, and unfortunately, AFA has not fully fulfilled its contractual obligations despite being given time and opportunity, contrary to our business values and association principles.
With budget constraints The allegations made in recent days about Binance, which has come to the fore economic situation of the stock market once again fueled the rumors about him. Adam Cochran, a Cinneamhain Ventures partner and a well-known investor in the cryptocurrency market, stated that Binance has started an unknown cost-cutting policy.