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CBF cancels sponsorship of cryptocurrency broker after being defaulted

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The Brazilian Football Confederation (CBF) restricted the sponsorship of a cryptocurrency broker suspected of fraud during the World Cup 2022. Last year, Bitci approached Brazil for the first time, although it was not a well-known platform.

Of Turkish origin, the contract with the CBF predicted several novelties for the Brazilian team, including the sale of NFTs.

At the time, the CBF itself announced on its page that the brokerage would create the official cryptocurrency of the Brazilian team.

The then acting president of the CBF, Antônio Carlos Nunes, declared that “together with Bitci, we have the opportunity to leverage the interaction with fans of the Brazilian national team around the world. We will connect the passion for the most popular national team on the planet with experiences, content and benefits

“.

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The Brazilian team is preparing under Tite for the debut at the World Cup in Qatar next Thursday (24). During the match, it is possible that the ex-partner’s brand can no longer appear.

CBF terminates the suspected cryptocurrency brokerage that has not been honoring payments

According to information released by the Máquina do Esporte website, the CBF is tired of the Bitci cryptocurrency brokerage. Thus, the contract was terminated and the Brazilian team should no longer display the brand in their public appearances.

In June 2021, the agreement also provided for the launch of NFTs involving the Brazilian men’s, women’s, sub-

, sub-

and sub-20.

That is, the partnership was broad and would show the Turkish exchange around the world, this being the first cryptocurrency company to sponsor the CBF.

With the payment delays in recent months, the CBF tried to talk to the company, but the situation was not resolved. A possible termination had already been considered when Tite called up the Brazilian team for the World Cup, and Bitci’s image was not displayed during the press conference.

Before delaying transfers to the CBF, Bitci delayed payments to McLaren of Formula 1 and two football clubs in Europe. Publicly, the CBF did not comment on the termination.

In addition to the CBF, Bitci has as partners the clubs Fortaleza, Coritiba, Ceará, Sport and Vitória, all in Brazil. It is not clear if the delays extend to the teams, but publicly the broker has not yet commented on the matter.

Fan token of the Brazilian team collapses

After Saudi Arabia’s victory over Argentina on Tuesday (22), the cryptocurrency of the Brazilian National Team became the most valued among fan tokens of selections.

However, rumors about the termination of the CBF contract with Bitci led the BFT cryptocurrency to fall 20% in the last 15 hours. Data collected by Livecoins indicate that 2.947 wallets still hold the cryptocurrency.