Argentina in Cryptocurrency War After Signing Deals With 2 Companies
Jan 28, 2022, by Chris
Earlier this week, the Argentine Football Association (AFA) announced a deal with cryptocurrency exchange platform Binance. However, the AFA already have/had another crypto sponsor - and now the federation are in a battle with Socios, their first crypto sponsor.
Argentina Sign 5-Year Binance Deal Despite Existing Socios Deal
The new AFA x Binance sponsorship deal was agreed on for five years. Binance will be the new main sponsor of the national team & first league as well as managing AFA's official fan token. Fan Tokens are somehow a kind of a cryptocurrency.
The majority of buyers of the first Argentina Fan Token have likely lost much of their money
However, in June 2021, the AFA already signed a three-year deal with Chiliz/Socios, including naming rights and a fan token that has already been issued. Socios views this deal as a breach of contract.
Socios issued the following statement:
“We are thoroughly outraged by AFA’s recent actions. AFA has issued a press release announcing a new Fan Token partnership, Sponsorship and Naming Rights with a different provider barely 9 months into a 3 year contractual relationship with Socios.com that remains in full force.
Socios say Argentina breached their contract
They pretend to grant the same rights we currently enjoy to a third party and we will be doing everything in our power to defer AFA from proceeding and to protect the rights of the fans who have purchased $ARG Fan Tokens. This is a direct breach of contract and we will be taking all necessary legal actions, in every forum and jurisdiction, to protect the rights of Socios.com, the fans and to ensure AFA comply with what they have agreed with.”
AFA: "The relationship between AFA and Socios is finished"
Argentina fired back in a statement: "The relationship between AFA and Socios is finished, and there is no existing legal relationship between the parties."
Fan tokens give fans the right to participate in community activities such as voting on decisions. Various teams have signed deals with cryptocurrency companies Socios and Binance recently, including Inter Milan, Lazio, Barcelona, PSG, and Manchester City.
Meanwhile, most fans who bought the original Socios Argentina Fan Token have lost a large part of their investment. Socios's Argentine national football team tokens is currently valued at around 1.25 GBP, down almost 80% from the peak of £6.02 last June.
Cryptocurrencies are particularly popular in Argentina
In Argentina, around 3% of the population holds crypto. In 2021, there was an exponential rise in the popularity of crypto due to economic instability, high inflation, and a deflating local currency.
“Soccer and cryptocurrencies are life in Argentina, so it makes sense for Binance to partner with the Argentine Football Association,” said Binance’s Chief Marketing Officer, He Yi. “Through this agreement, we hope to support Argentine soccer at all levels and introduce Binance, the crypto world and the blockchain to soccer fans across the country and the world.”
Share your thoughts in the comments below.
Slovan Liberec 26-27 Home & Away Kits Released
Slovan Liberec have unveiled their new 26-27 home and away kits. Made by Nike in cooperation with teamwear specialist 11teamsports, the new shirts introduce contrasting looks for the Czech First League club.
The Nike Slovan Liberec 26-27 home shirt features a bold black and blue design. This predominantly dark look is directly inspired by the club's newly introduced visual identity, offering a striking and modern aesthetic for their home matches.
In contrast, the Nike Slovan Liberec 26-27 away shirt opts for a much more traditional design. It combines a clean white base with blue details, staying true to the club's classic away colors and providing a perfect alternative to the dark home kit.
No More Adidas: Decathlon Casertana 26-27 Home & Away Kits Released
Italian Serie C side Casertana FC has officially unveiled its new 26-27 home and away kits, marking the beginning of a new technical partnership with Decathlon. The French sporting goods retailer replaces Adidas, who produced the club's kits for the 25-26 season. The new Decathlon Casertana 26-27 shirts feature bespoke designs.
Argentina Rugby Team Wears 1986 World Cup-Inspired Jersey Against England
The Argentina national rugby union team, Los Pumas, took to the pitch in special attire for their international test match against England on July 18, 2026. Instead of their usual shirt, they wore a special edition inspired by the Argentina 1986 FIFA World Cup football kit, famous for its association with Diego Maradona and the national team's triumph in Mexico.
FC Slovan Liberec 26-27 Home & Away Kits Released
The new FC Slovan Liberec 26-27 home and away kits have been officially revealed, produced by Nike in collaboration with 11teamsports.
The home shirt introduces a bold dark black and blue design that aligns with the club's new identity, while the away jersey is white and blue. Both kits will be worn in the upcoming Chance Liga campaign.
Petrolul Ploiești 26-27 Away Kit Released
The new Petrolul Ploiești 26-27 away kit was released today. It is made by Macron and will be worn in the upcoming 2026-27 Romanian Liga I season.
Manufactured by Italian sportswear brand Macron, the Petrolul Ploiești 2026-2027 away shirt provides a fresh alternative design for the club's travels. It features Macron's standard performance template and detailing, tailored specifically for the Romanian side as they look ahead to their new domestic campaign.
Fans can expect the Macron Petrolul Ploiești 26-27 away uniform to be available for purchase through the club's official physical and online retail channels.
