News - Binance withdraws as main sponsor of Argentine soccer federation

By Sam Fröling

Binance withdraws as main sponsor of Argentine soccer federation

Investing
Binance withdraws, as main sponsor of Argentine soccer federation

Binance is withdrawing as the main sponsor of the Argentine Football Federation. According to the crypto exchange, agreements have not been fulfilled.

Binance has ended its partnership with the Argentine Football Association (AFA), the crypto exchange made this known known on Twitter. According to Binance, contractual agreements had not been met.

"We regularly review the results of our partnerships around the world and unfortunately, despite the time and opportunity provided, the AFA has not fully met its contractual obligations, which is contrary to our business values and partnership principles."

Contract broken earlier

Binance would remain the main sponsor of the Argentine national soccer team until 2027. Earlier this week, it was announced that the crypto exchange would lay off 1,000 employees. According to media reports, thousands more jobs could be affected this year.

Also read: Top executives are leaving Binance - is Changpeng Zhao the reason?

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