Cryptocurrency exchange Crypto.com has cancelled a five-year sponsorship deal worth $495million with the UEFA Champions League
Major cryptocurrency exchange platform Crypto.com has officially scrapped its deal with the UEFA Champions League.
The in-principle deal would have seen the crypto company take over as the sponsor from Russian state-owned energy company, Gazprom.
Gazprom’s contract was cancelled in March, following Russia’s invasion of Ukraine.
Crypto.com scrapped the deal because of regulatory concerns in the U.K, France and Italy.
The crypto exchange has previously been involved in sports advertising over the past year, with sponsorship into Formula One and the naming rights deal for the Staples Centre in Los Angeles.
