Crypto.com company announced that it has canceled its $495 million European Champions League (UEFA) sponsorship deal amid concerns about regulatory sanctions in Europe.
based in Singapore Crypto.com of the stock market Champions League It was known that the sponsorship agreement with the company was completed in the procedure and there were no disputes so far. However, according to a report by SportBusiness on August 31, the cryptocurrency company withdrew its agreement with the major sports organization.
Although it seems that there may be many reasons behind this step back of Crypto.com, it seems that the biggest factor is European regulatory bodies conflict with and possibility of sanctions is located. In fact, this sponsorship offer was not the first advertising investment by Crypto.com into the industry. Last year Formula 1 sponsors many major sporting events, including and 1 billion dollars At this point, the move made by the company, which spends a lot of money on the Champions League, seems a little surprising.
The crypto money bear season, which has been going on for about 10 months, has made the Crypto.com stock market a reality. austerity policy Among the important topics discussed among the commentators is the possibility that he has dragged himself into the spotlight and avoided some heavy sponsorship deals because of this.