9 months ago
FC Barcelona Faces Backlash Over Crypto Sponsor ZKP
FC Barcelona has made a three-year deal with a crypto company called Zero-Knowledge Proof (ZKP).
ZKP is very secretive and doesn't share much about who runs it or where its money comes from.
This has made many people worried, especially because ZKP is promoting its coins to Barcelona fans.
The club says it's not responsible for ZKP's coins, but some people think Barcelona should have checked more before making the deal.
There are also concerns because a person named Andrew Tate, who is in legal trouble, promoted ZKP.
Barcelona says it will share more information when it's available.
FC Barcelona entered a three-year sponsorship with crypto start-up ZKP, raising concerns about transparency and financial risks to fans.
ZKP is registered in Samoa and offers little information about its founders, funding, or operations.
Barcelona clarified it has no connection to ZKP's token and it's not part of the sponsorship agreement.
Critics, including former Barcelona board director Xavier Vilajoana, question the club's due diligence and suggest financial desperation.
Andrew Tate, facing multiple legal charges, promoted ZKP, further fueling doubts about the partnership.
- Who
- FC Barcelona and crypto start-up Zero-Knowledge Proof (ZKP)
- What
- FC Barcelona faces backlash over a secretive sponsorship deal with ZKP
- Where
- FC Barcelona (Spain) and ZKP (registered in Samoa)
- When
- Sponsorship announced in mid-November, ongoing scrutiny
- Why
- Critics raise concerns over ZKP's lack of transparency and potential financial risks to fans
Key facts
- Sponsor Name
- Zero-Knowledge Proof (ZKP)
- Sponsorship Duration
- Three years
- ZKP's Claimed Funds Raised
- ZKP's Legal Name
- Braxova Ltd (Samoan registered company)
- ZKP's Social Media Following
- Over 1,500 followers on X, 265 on Instagram
- Barcelona's Statement
- No connection to ZKP's token, not part of sponsorship agreement
- Critic's Concern
- Lack of transparency and potential financial risks to fans
- Andrew Tate's Involvement
- Promoted ZKP, facing multiple legal charges
Quotes
FC Barcelona
A professional football club based in Barcelona, Spain.
“ZKP involves ensuring that the identity of sports fans, data, and intelligence are handled with cryptographic confidence, verifying information with reliable mathematical processes.”
telegraphindia.com
ZKP's website
The official website of Zero-Knowledge Proof, a crypto startup.
“Everyone asks, ‘Who’s behind this?’” As if knowing the names would make the code stronger. It won’t.”
telegraphindia.com
Xavier Vilajoana
Former Barcelona board director and candidate for the club's presidency.
“It is incredibly concerning that Barca’s leadership would choose to associate the club with a company whose background raises so many red flags.”
telegraphindia.com
