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FC Barcelona Faces Backlash Over Sponsorship with Obscure Crypto Firm

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FC Barcelona has drawn sharp criticism after signing a three-year sponsorship settlement with Zero-Knowledge Proof (ZKP), a “little-known” blockchain startup registered in Samoa that had solely dozens of social media followers when the deal was introduced.

As first reported by the FT, the partnership has sparked accusations that the membership is desperately chasing income whereas probably exposing followers to monetary dangers by means of an organization that gives minimal transparency into its operations or management.

The Catalan large announced the settlement on November 15, making ZKP its official blockchain expertise companion, regardless of the corporate’s skinny digital footprint and offshore registration in a jurisdiction the European Union lists as a tax haven.

Critics have pointed to troubling connections, together with controversial influencer Andrew Tate selling zero-knowledge proof methods hours after the deal went public, with a model of his video that includes ZKP’s emblem later distributed by means of the corporate’s Telegram channel.

Red Flags and Missing Details

ZKP launched itself with its first put up on X, which had solely 33 followers, following solely FC Barcelona, Bitcoin, and Andrew Tate.

The firm held its first public sale of 200 million cash on November 21. While ZKP’s web site claims dedication to transparency, it gives scant element about who runs the operation or who offered the $100 million financing it claims to have secured.

“Everyone asks, ‘Who’s behind this?’ As if understanding the names would make the code stronger. It received’t. We’re actual — engineers, cryptographers, ex-founders, system killers. But we’re not taking part in the PR sport,” the corporate states on its web site.

Martin Calladine, writer of No Questions Asked: How soccer joined the crypto con, described the knowledge deficit as “deeply regarding” and warned that Barcelona followers might be lured into buying cash “that would simply find yourself being nugatory.“

Former Barcelona board director Xavier Vilajoana questioned what due diligence the membership carried out earlier than finalizing the settlement.

“It is extremely regarding that Barca’s management would select to affiliate the membership with an organization whose background raises so many pink flags,” he stated, warning that partnering with a secretive crypto startup alerts “desperation” on the financially stricken group.

On November 26, Barcelona issued a press release distancing itself from ZKP’s newly introduced FCB token, clarifying that the membership has “no connection in anyway” to it.

Financial Pressure Mounts

The ZKP partnership arrives as Barcelona grapples with extreme monetary strain following an ill-judged player-buying spree between 2017 and 2019.

The membership has been punished repeatedly for breaching Spanish soccer’s spending restrict, with its newest accounts displaying internet debt of €469 million plus greater than €900 million in stadium-related borrowing.

Barcelona has tried to enhance its funds by means of asset gross sales, together with parts of its long-term tv earnings. Still, pricey delays to its stadium renovation have made income era extra pressing.

Barcelona’s different Web3 ventures have additionally faltered. The membership booked a €141 million writedown final yr after a deal to promote a stake in Barça Vision collapsed when buyers didn’t make funds.

Despite setbacks, Barcelona has maintained its digital asset initiatives, together with promoting its first NFT for $693,000 at Sotheby’s in July 2022 and launching FC Barcelona Fan Tokens by means of Chiliz and Socios in June 2020, which sold out for $1.3 million in lower than 2 hours.

Growing Industry Trend

Crypto companies have rushed to sponsor soccer golf equipment lately. However, many offers have led to acrimony, with Inter Milan, Roma, Chelsea, and Atlético Madrid amongst golf equipment that entered agreements that had been terminated early.

Despite cautionary tales, the pattern continues to speed up. Paris Saint-Germain revealed in May 2025 that it had turn into the primary sports activities entity to undertake a Bitcoin treasury technique.

A Sport Quake study discovered that soccer accounted for 43% of all crypto and digital asset sponsorships within the 2024/25 season, representing a 64% year-over-year enhance.

Recent partnerships embody Kadena’s four-year agreement with the Croatian Football Federation in February and Tether’s acquisition of a minority stake in Juventus FC.

Barcelona’s partnership with ZKP however stands aside for the opacity surrounding the corporate and the pace at which pink flags emerged.

The put up FC Barcelona Faces Backlash Over Sponsorship with Obscure Crypto Firm appeared first on Cryptonews.

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