Binance has ended its partnership with the Argentine soccer association after just one year, citing a breach of contract. The company stated that the AFA had not fully complied with its contractual obligations, which goes against their business values and partnership principles.
In January 2022, Binance became the main sponsor of Argentina's national soccer team and the naming sponsor of its national soccer league in a five-year deal. Binance has been affected by the bear market and regulatory crackdown, with declining profits leading to job cuts and the SEC suing the company for operating as an unregistered securities exchange.
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