British press: the risky football and cryptocurrency market

The value of cryptocurrencies such as Bitcoin and various digital assets is now a controversial issue. In the eyes of some, this decentralized economy is just an explosion and a bubble, while others think that it means that the world is on the verge of a "monetary revolution around". When used correctly, blockchain technology that supports cryptocurrencies can make a difference. However, in most cases, the cryptocurrencies provided by the cryptocurrency trading platforms associated with the market are only reliable with high risk of assets or outright fraud, resulting in the loss of single users. can hardly be avoided.

photo Source Visual Chine

Recently there have been concerns about these companies and their products. Due to strict regulation, many cryptocurrency companies have invested in expensive markets, and most of them are among the best football stars and financial institutions in the world. The purpose of this platform is very clear. They often praise this risky business, follow products that have no total control, and persuade fans to bid on products they don't fully understand. .

The "Binance" cryptocurrency trading platform is modeled after this. The company announces new partnerships every three weeks with athletes, including Uruguayan star Suarez and Colombian national hero James Rodriguez, but did not say the platform was delayed in the latter country. In Spain, World Cup winner Iniesta recently joined Binance, a move that Spain's National Securities Commission condemned. The latter stressed that "crypto assets" are illegal products and are responsible for alerting fans that there is a risk of interference. It's unclear how much Binance paid for these artists, but the price can seem mind-boggling.

Binance is a struggling business. In the UK, the Office of Financial Institutions has banned activities that could involve laundry problems and unprotected consumers. In May of this year, the US Department of Justice also investigated Binance. In the United States, operating companies use a network of quasi-independent corporate structures that appear to protect security.

Famous football stars have a special role to play with the many young people who admire them. Do I have to agree on a financial product for millions of fans regardless of the potential loss? How much did Suarez personally invest in Dogecoin? On a platform that has been criticized, it's horrible to see a wealthy star running a fan out of money to gamble.

However, the problem is not limited to Binance and a star player. In fact, everyone in football seems to be concerned. For example, Premier League Wolves is sponsored by the Bitci cryptocurrency trading platform. In Italy, Socios, who posted a fan token online, recently became a sponsor of Inter Milan. These companies weren't strictly monitored like Binance, but they were all shown what it means to be "whitewashed sports." .

Currently, the sports world has banned smoking in the jersey of sportswear, and there are strict rules to promote gambling and alcohol on sportswear. . You should consider applying a similar policy to the cryptocurrency site. But sadly, the football world is once again ignoring the safety of the fans and the fans are their parents.