.Binance has terminated its five-year partnership with the Argentine soccer association (afa) citing a breach of contract. The exchange was the main sponsor of Argentina’s powerhouse national soccer team, the reigning world champion.
Binance has terminated its five-year partnership with the Argentine soccer association, just after a year, citing a breach of contract.
"We regularly evaluate the results of our partnerships around the world and unfortunately, despite being offered time and opportunities, the AFA has not fully complied with its contractual obligations, which goes against our business values and our partnership principles," Binance said in a Spanish-language statement posted on Twitter on Monday.and the naming sponsor of its national soccer league in a five-year deal.
The deal was not without controversy, as AFA unilaterally terminated a contract with the fan token site Socios to sign an agreement with Binance. Afterwards,, although the company remained as the exclusive provider of AFA's official fan token, $ARG, until 2026. The bear market and regulatory crackdown have stung all corners of the crypto markets and Binance, one of the world's largest exchanges, hasn't been spared.
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