<div class="cryptonews">
 <p class="is-style-lead">The Spanish football club Atlético Madrid is preparing to file a lawsuit against the Singaporean <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> WhaleFin, per a news <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>.</p>
 <p>According to Protos, the subject of the dispute is income relating to a sponsorship in the amount of $44 million, which the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> did not pay to the football club.</p>
 <p>According to the source, Atlético Madrid signed a five-year contract with WhaleFin ahead of the 2022/23 season. Subsequently, the crypto exchange violated the terms of the agreement and refused to pony up the rest of the payment, club representatives now claim.</p>
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 <p>In Dec. 2022, the crypto exchange reported financial difficulties and terminated a $25 million sponsorship agreement with the English FC Chelsea. That event occurred seven months after the conclusion of the contract.</p>
 <p>It’s not the Madrid football club’s first or only foray into <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>. Atlético Madrid has its own ATM fan token. However, it showed little reaction to news of the lawsuit. At the time of publication, it is trading at $2.61. The token is up 8% over the past month, according to&nbsp;CoinMarketCap.</p>
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   <img decoding="async" width="1024" height="524" src="https://cdn.thebittimes.com/images/2023/11/24/c77d325c8b1e6f1078efcbf76b18073c.webp" alt="Atlético Madrid reportedly planning to sue crypto exchange WhaleFin - 1"> 
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   Source: CoinMarketCap
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 <p>According to&nbsp;Calcio Finanza, a similar situation occurred with Italian football clubs Inter and Roma. Previously, they entered into a contract with the blockchain company DigitalBits. It was later dropped as a sponsor when it refused to pay more than $17 million to Inter and approximately $11 million to Roma.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/atletico-madrid-reportedly-planning-to-sue-crypto-exchange-whalefin-tbt71468.html">https://thebittimes.com/atletico-madrid-reportedly-planning-to-sue-crypto-exchange-whalefin-tbt71468.html</a></p>

Atlético Madrid reportedly planning to sue crypto exchange WhaleFin

TheBitTimes

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