SocialCoin(SOCC)

Soccer has the World Cup. Athletics and many other sports have the Olympics. Crypto has the halving. The milestone in the blockchain's 15-year history technically means a cut in rewards for crypto miners with each block – a feature designed to minimize inflation.

French football giant Paris Saint-Germain said it will become a network validator for the Chilliz Chain and use the revenue to repurchase its fan tokens.

[PRESS RELEASE – Tel Aviv, Israel, February 7th, 2024] UNKJD Studios (formerly ‘Uncaged Studio’), acclaimed for its Web3 game MonkeyLeague, unveils its new brand under the name of UNKJD Soccer. It aims to expand beyond the mobile soccer game, with a new vision to build the brand on the three core pillars: IP, game, and […]

The suit, filed in the District Court of the Southern District of California, alleges that Ronaldo "promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance."

The plaintiffs claim users lured by Ronaldo's promotions engaged with Binance for other activities, like buying unregistered securities.

The soccer star’s Binance-tied NFTs allegedly promoted investments in unregistered securities on the crypto exchange.

The two are collaborating to auction a limited collection of soccer boots, which will be paired with a digital twin on the Adidas Web3 platform.

Soccer star Cristiano Ronaldo took a lie detector test to celebrate the launch of his latest NFT collection in July.

The former pro soccer player said in a congressional hearing that his likeness was improperly used to market an allegedly fraudulent crypto scheme.

Brazilian football legend Ronaldinho Gaúcho is embroiled in a cryptocurrency scandal, facing potential detention due to his alleged involvement in a pyramid scheme. Missed Testimony and Legal Implications The former football star's iconic status reportedly led to financial losses for numerous investors. As a result, he was summoned by the Brazilian Chamber of Deputies’ Financial Pyramids Committee to testify on August 24 regarding his alleged association with the companies 18kRonaldinho and LBLV. However, adverse weather conditions disrupted his travel plans, resulting in the cancellation of flights to the hearing's location in Porto Alegre. The committee has granted Ronaldinho another chance to testify, rescheduling the hearing for August 31. If he fails to appear again, authorities have warned that law enforcement agents could take more drastic measures. Key Players and Allegations Other than the former football player, the investigators are also looking into his brother Assis and business partner Marcelo Lara in their involvement in the venture. The firm, 18kRonaldinho, has been accused of orchestrating a cryptocurrency scam reminiscent of a pyramid scheme by allegedly promising daily returns exceeding 2%. The company lured investors to commit at least $30 worth of cryptocurrency. These investors are now demanding approximately 300 million reais or $61 million for the damages incurred. They claim the venture deceived them through false promises and illegitimate use of Ronaldinho's name and image. Ambassador or Accomplice? Despite the allegations, Ronaldinho is maintaining his innocence in the matter. His legal team has contended that he was merely an "ambassador" for the company, asserting that his name and image were exploited without proper authorization. They argue that he was also a victim of the fraudulent operation, similar to many investors. Despite Assis' claims that Ronaldinho has cooperated with investigations and provided clarifications to the nation's Public Ministry, lawmakers remain skeptical. They insist that Ronaldinho must testify in person to provide a firsthand account of his involvement. However, this isn't the first legal issue Ronaldinho has faced. In 2020, he and his brother Assis were arrested in Paraguay for using forged passports. This incident, combined with Assis' involvement in the ongoing cryptocurrency investigation, raises questions about their credibility. As the rescheduled hearing approaches, Ronaldinho's fate hangs in the balance. The authorities will scrutinize the football star's credibility and alleged role in the cryptocurrency scandal. Investors and fans alike await further developments in this unfolding controversy. Many other football players and sportsperson have hitched their wagons to several crypto projects. Ronaldinho himself has several other projects brewing in the space. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ronaldinho will get another chance to explain his potential role in the fraud on August 30.

BitMEX became the Premium Partner of AC Milan as part of the new agreement terms.

Despite cutting ties with the AFA, Binance has no intentions to push the brake in Argentina.

Binance, one of the world's largest cryptocurrency exchanges, has abruptly ended its five-year partnership with the Argentine Football Association (AFA) after only one year. As per the exchange, the termination happened because the AFA failed to comply with partnership obligations. Partnership Background Binance and AFA went into business in AFA, with the former becoming the official naming sponsor of the country's national football team. The deal was for a five-year partnership, generating significant buzz in the crypto space. However, things started to sour after the AFA allegedly failed to fully comply with its partnership obligations leading to the dissolution. As per Binance, the AFA's non-compliance conflicted with their business values and partnership principles. Wu Blockchain tweeted: "Binance has terminated its five-year partnership with the Argentine soccer association, just after a year, citing a breach of contract. The move comes at a time when Binance is cutting staff and employee benefits. In January 2022, Binance became the main sponsor of Argentina’s national soccer team." More Troubles For Binance Binance is currently going through challenging times after news came out that they have reportedly laid off several staff members after a number of executives left the firm. Apparently, more than 1,000 staff members were let go over the past few weeks. It should be noted that Binance CEO CZ has tweeted that the numbers reported were grossly inaccurate. AFA's Crypto Partnership The Binance partnership was far from AFA’s first crypto rodeo. Previously, the AFA had partnered with global exchange ByBit as its main sponsor. The AFA had also partnered with the likes ofUpland, and BC.GAME. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Swiss bank Credit Suisse has partnered with the Swiss Football Association to release NFTs in support of women’s soccer in the country.

Empowerment, the second NFT in the football club’s ten-piece Masterpiece collection, is a one-of-one created in collaboration with World of Women that pays tribute to Spanish player Alexia Putellas.

Bitcoin pitch invasion! A new Cointelegraph video examines a local soccer club’s impact on the town and national Bitcoin adoption

Can a Bitcoin-boosted football club breathe life into a tired town in the United Kingdom? This week’s “Decentralize with Cointelegraph” podcast tours Bedford.

"We’re the Bitcoin club. But as Bitcoin is, we're a community. So this is our team. And if we go up, everyone's going to be like, Yeah, that's our team!" chairman Peter McCormack told Cointelegraph.

Dragonfly Capital has announced a $10 million strategic investment in the derivatives exchange Bitget. Bitget has been looking to grow both its earn and spot products and currently facilitates cryptocurrency derivatives trading with an open interest of $2.4 billion. A Strategic Investment To Support Expansion The news of the investment could not have come at a better time for Bitget, which had recently acquired a controlling stake in wallet provider Bitkeep. The firm invested $30 million in BitKeep, adding millions of users to its platform. BitKeep is Asia’s largest crypto wallet, boasting around 9.5 million registered users. Bitget is a Seychelles-based exchange that was founded in 2018 and has around 8 million users. The derivatives exchange primarily focuses on customers that are based in Asia, Latin America, and Europe. The exchange is best known for futures trading and was ranked among the top three derivatives exchange in a report by Boston Consulting Group. Since its inception, Bitget has grown to over 80,000 traders and 380,000 copy traders. Copy traders are those traders who sync their trading positions with traders through the use of automation. In 2023, the firm plans to expand its launchpad, spot trading, and Bitget Earn products. Bitget’s Expansion Plans Bitget will be looking to expand its product portfolio and intends to use the strategic investment by Dragonfly Capital towards the expansion of its spot trading and yield-generating products. It will also look to use the funds to help fuel the growth of its launchpad initiative. Bitget’s launchpad is designed to help early-stage token projects get up and running. Additionally, the investment from Dragonfly Capital will also be used towards global initiatives aimed at getting more people into the crypto ecosystem. In line with this initiative, Bitget has already struck deals with soccer superstar Lionel Messi and one of the leading clubs in Italy, Juventus. There are also plans afoot to conduct educational campaigns to help boost adoption. Speaking about the Dragonfly Capital investment, Managing Director of Bitget, Gracy Chen, stated, “Except for the cash inflow, what will benefit us more from the Dragonfly partnership is their crypto savvy and insights. Together, we will be able to discover more growth opportunities and contribute more to the sustainable growth of our industry.” Dragonfly’s Investment Portfolio The Bitget strategic investment is not the only one made by Dragonfly in the crypto space. The firm has also invested in several other prominent blockchain firms, such as 1inch, Polygon, and Matter Labs. Dragonfly had around $3 billion in assets under management in 2022 and is one of the most active venture investors in the crypto space. The platform had raised $650 million for its third fund as recently as April 2022. Are The Markets Stabilizing? The FTX collapse had a substantial negative impact on cryptocurrency derivatives exchanges. At the time of its collapse, FTX had facilitated $6.6 billion in contracts in a single day in trading volume, with an open interest of $5.1 billion. However, the markets have shown signs of life and have recovered to around $68.5 billion at the time of writing. This is in stark contrast to the $60.1 billion in December 2022, when the markets were at their lowest, according to data from CoinMarketCap. While the markets may have found some sense of stability following the FTX collapse, there are still a lot of issues facing the crypto ecosystem. One such problem is the increased regulatory scrutiny of major players. One example of this is the lawsuit filed against Binance by the Commodity Futures Trading Commission (CFTC). The CFTC, in its lawsuit, alleges that Binance onboarded nearly 2.8 million customers without registering with the correct regulatory authority. Binance faces scrutiny because, under US laws, the onus of due diligence before onboarding users falls on the seller. This is why it is unlikely that the alleged users could face any consequences for registering on the platform, but Binance would. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.