Coinbase teams up with Toronto FC for crypto push despite KYC data breach

Coinbase is expanding its Canadian sports presence through new partnerships with Toronto FC and the Argonauts, despite ongoing scrutiny over a recent customer data breach.

U.S.-based cryptocurrency exchange Coinbase is making a major play for Canadian fans through new multi-year deals with Toronto FC and the Toronto Argonauts, even as the company deals with backlash over a recent incident that exposed sensitive customer data.

The partnerships, announced in a blog post on Tuesday, will see Coinbase become the exclusive crypto exchange and wallet partner for both teams under the Maple Leaf Sports & Entertainment umbrella. Fans can expect jersey patches on Argonauts uniforms, fieldside ads at BMO Field, and even a swanky new “Coinbase Lounge” at the stadium, the report reads.

The company also plans to roll out digital games, contests, and crypto education campaigns targeting Canada’s estimated 5 million crypto holders, though details are yet to be revealed.

“This collaboration marks an exciting step in our commitment to engaging with passionate global sports communities and expanding our presence in Canada. As the exclusive cryptocurrency exchange and wallet partner for both Toronto FC and the Toronto Argonauts, Coinbase will be integrated into the fan experience in meaningful ways.”

Coinbase

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The deal comes as Coinbase works to rebuild trust following a recent data breach that exposed customer information including home addresses and ID documents.

The incident drew sharp criticism, with TechCrunch founder Michael Arrington warning the leaked data could endanger users, stating it “will lead to people dying.” U.S. authorities have opened an investigation into the breach, which Coinbase says it’s fully cooperating with.

The exchange has attempted to mitigate the fallout, offering a $20 million bounty for information leading to the hackers’ arrest and pledging to reimburse affected users, though concrete results from these efforts have yet to materialize.

Read more: The Coinbase hack that shadowed its S&P rise — and the investigators who saw it coming

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