Binance ends association with Argentina national football team

The world’s largest cryptocurrency exchange – Binance – has ended its partnership with the Argentine Football Association (AFA), claiming that the latter “has not fully fulfilled its contractual obligations.”

The agreement, which turned the platform into the global main sponsor of the Argentina national football team, was to last until 2027.

parting ways

Binance and AFA Put signature on The deal takes place in January 2022, several months before the start of the World Cup in Qatar, with Argentina winning the trophy. The partnership was considered a significant achievement for the exchange as it was its first association with a national football team.

recently doHowever, Binance said that the AFA did not comply with its contractual obligations. Thus, it severed ties with the entity as it goes against its “business values ​​and association principles”.

“Binance has decided to end its relationship with the AFA (Argentine Football Association). We regularly evaluate the results of our partnerships around the world, and unfortunately, despite being offered the time and opportunity, the AFA has not fully met its contractual obligations, which is contrary to our business values ​​and our association principles. is against,” the announcement read.

On the other hand, Binance is determined to strengthen its presence in Argentina. It said it would continue to engage with domestic partners such as prestigious universities to “expand educational efforts and strategic business alliances”.

remember that exchange teamed up A five-month training program focused on cryptocurrencies, blockchain technology, Web3 and the Metaverse will be provided in May in collaboration with Austral University.

Argentina’s Football Team Has Another Crypto Sponsor

Binance Wasn’t the AFA’s Sole Crypto Partner as Previously Association agreement A deal with Bybit. The market serves as the global main sponsor for all football selections, while its logo appears on the training apparel of Lionel Messi (Argentina’s captain) and his teammates. Bybit and AFA announced their collaboration in November 2021, which revealed it would last for 24 months.

Significantly, Argentina’s big star – “Leo” Messi – cooperated With cryptocurrency exchange BitGate in October last year. The winner of a record seven Ballon d’Or awards became the platform’s brand ambassador, while his responsibilities included presenting the company’s products and services to sports fans, brands and organizations.

Messi is one of the most influential athletes with around 480 million followers on Instagram. His biggest rival – Cristiano Ronaldo (who has partnership with Binance) – is about 600 million.