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  <p class="is-style-lead">Binance has cut ties with the Argentine Football Association (AFA), citing a breach of contractual agreement.</p> 
  <p class="is-style-default">Binance Argentina announced its decision to end the partnership deal with the AFA stems in a tweet on July 17. </p> 
  <p>Despite being given ample opportunities, the AFA fell short of fulfilling its obligations, which conflicted with Binance’s core business values and principles, stated the exchange.</p> 
  <p>The partnership was <a href="https://www.binance.com/es-AR/blog/community/la-asociaci%C3%B3n-del-f%C3%BAtbol-argentino-presenta-a-binance-como-nuevo-main-sponsor-global-y-fan-token-oficial-421499824684903342" target="_blank" rel="noopener noreferrer nofollow">originally </a>intended to span five years,&nbsp; making Binance the primary sponsor of Argentina’s national soccer team and the title sponsor of the national soccer league.&nbsp;</p> 
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     <p lang="es" dir="ltr">Binance ha decidido poner fin a su asociación con la AFA (Asociación del Fútbol Argentino). Regularmente, evaluamos los resultados de nuestras alianzas en todo el mundo y, lamentablemente, a pesar de que se han ofrecido tiempo y oportunidades, la AFA no ha cumplido plenamente con…</p>— Binance Argentina (@BinanceArg) <a href="https://twitter.com/BinanceArg/status/1680971083904700416?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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  <p> You might also like: <a href="https://crypto.news/argentine-central-bank-banks-handling-crypto/" rel="noopener noreferrer nofollow"> Argentine Central Bank Bars Banks from Handling Crypto </a> </p> 
  <p>Binance was not the only crypto company to have partnered with the AFA: Bybit, also an exchange, collaborated with the soccer association in 2021&nbsp;</p> 
  <p>Football and crypto have crossed paths increasingly in the past few years, as many web3 projects have signed <a href="https://crypto.news/okx-named-official-sleeve-partner-of-manchester-city-in-partnership-expansion/" rel="noopener noreferrer nofollow">partnership deals</a> with various top soccer clubs.&nbsp;</p> 
  <p>FIFA, the world soccer governing body, has recently submitted <a href="https://crypto.news/fifa-files-metaverse-related-trademarks/" rel="noopener noreferrer nofollow">trademark applications </a>related to the metaverse under its “WE ARE” initiative. These trademarks seek to safeguard a wide range of potential online services, from fitness coaching sessions to live streaming of sporting events.&nbsp;</p> 
  <p> You might also like: <a href="https://crypto.news/former-ftx-boss-reportedly-rejected-partnership-with-taylor-swift/" rel="noopener noreferrer nofollow"> Former FTX boss reportedly rejected partnership with Taylor Swift </a> </p> 
  <h2 class="wp-block-heading" id="challenging-times-for-binance">Challenging times for Binance</h2> 
  <p>Binance is currently navigating through a challenging phase, <a href="https://crypto.news/binance-lays-off-over-1000-employees-amid-regulatory-hurdle/" rel="noopener noreferrer nofollow">reportedly</a> laying off many staff members after several executive departures. The exchange’s founder and CEO сommented the recent hiring decisions calling it a “strive to increase talent diversity” and subsequent “involuntary terminations.”</p> 
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     <p lang="en" dir="ltr">As we continuously strive to increase talent density, there are involuntary terminations. This happens in every company. The numbers reported by media are all way off. 4 FUD. <br><br>On the bright side, they just can’t resist talking about us.<br><br>We are still hiring. 🤝</p>— CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1679951762906595330?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 14, 2023</a> 
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  <p>Moreover, in the United States, Binance is facing regulatory <a href="https://crypto.news/sec-sues-binance-and-cz-for-securities-violations/" rel="noopener noreferrer nofollow">backlash</a> from the SEC for carrying out unregistered securities offerings.&nbsp;</p> 
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   <div class="wp-block-embed__wrapper"> <iframe loading="lazy" title="Binance Abruptly Terminates Argentine Soccer Association Partnership Citing Contract Breach" width="1020" height="574" src="https://www.youtube.com/embed/Si0e1AgKyas?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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  <p>Australian authorities recently <a href="https://crypto.news/australian-authorities-invade-binance-offices-amid-probe/" rel="noopener noreferrer nofollow">conducted</a> an unexpected raid on Binance’s offices due to concerns about the company’s derivatives division. The investigation aimed to understand how Binance classified its customers and their operations.&nbsp;</p> 
  <p> Read more: <a href="https://crypto.news/binance-appoints-new-general-counsel-to-lead-a-team-of-85-lawyers/" rel="noopener noreferrer nofollow"> Binance appoints new general counsel to lead a team of 85 lawyers </a> </p>
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Binance cuts ties with the Argentine Football Association

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