Argentine Football Association threatens to sue the Binance cryptocurrency – Bits Media

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Аргентинская футбольная ассоциация грозится подать в суд на криптобиржу Binance - Bits Media

Argentine football association (AFA) I challenged the statement of the largest crypto -story world on violation of the terms of the sponsorship transaction and intends to file a court on Binance.

Binance concluded a sports sponsorship deal with AFA in 2022 year. As part of the agreement in the amount of about $8 million per year, Binance has become the main sponsor of current world champions. However, the disagreements later arose, When the blockchain platform SOCIOS, owned by Chiliz, sued the AFA for termination of the current contract and signing the contract with Binance. Last year, the court forbade the AFA to conclude a sponsorship agreement with the exchange.

Afa assures, that the Binance management suddenly terminated the deal due to financial difficulties and regulatory problems with the US Securities and Exchange Commission (SEC). The commission accused Binance and its CEO Chanpan Zhao (Changpeng Zhao) In violation of American laws on securities.

Binance management claims: It was the AFA who did not fully fulfill its contractual obligations, which contradicts the business principles and values ​​of the exchange.

AFA President Pablo Tovigjino (Pablo Toviggino) I referred to media reports about that, that Binance fired about 1000 of 8000 their employees around the world. This was preceded by the departure of several Binance top managers, including the director of strategic development Patrick Hillmann (Patrick Hillmann). 

Recall, what in 2021 year Binance announced partnership with the Italian football club S.S. Lazio, Within the framework of the contract, the issue was planned 40 Million tokens for club fans.