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Crypto

CHART: Every crypto sponsor in this year’s Premier League

By admin
0 7

CHART: Every crypto sponsor in this year’s Premier League

The number of Premier League football teams partnering with crypto sponsors has fallen this season, with 13 of the 20 teams involved repping crypto companies.

Across the league, 13 teams boast crypto sponsorships from 13 different crypto companies, with big names such as Socios, OKX, and Kraken making the list.

Last year’s competition saw 14 teams enter into partnerships with 15 different firms.

Of this year’s participating clubs, only AFC Bournemouth, Brentford, Brighton & Hove Albion, Fulham, Manchester United, Sunderland, and Wolverhampton Wanderers don’t have crypto sponsorships. Last year, six clubs eschewed crypto partnerships.

Meanwhile, the Champions League’s 36 participating teams boast a total of 48 crypto sponsorships between them.

CHART: Every crypto sponsor in this year’s Premier League

Study finds crypto sponsorships aren’t always up to scratch

A study conducted by Investigate Europe and shared with The Observer found that many of this year’s Premier League teams are sponsored by crypto and investment firms that aren’t approved by the country’s financial watchdog, the FCA.

It highlights Newcastle’s sponsorship with VT Markets, a “contract for difference (CFD)” broker that offers crypto CFDs, and notes how VT Markets is on the FCA’s warning list and has no UK license.

The FCA says the firm “may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.”

The study also notes how OKX, which sponsors Manchester City, isn’t registered with the FCA and was found guilty of breaching US anti-money laundering laws, resulting in a $500 million fine.

Socios is another crypto firm that isn’t registered with the FCA, and warns on its site that any losses incurred because of falling fan token prices won’t be covered by investor protection schemes.

It’s the most prolific crypto sponsor and is backing six Premier League teams this year.

You can view the full chart of Premier League crypto sponsors here.

Source

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