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Borussia Dortmund and Coinbase expand their partnership

Coinbase recently had to lay off 950 employees and stop its operations in Japan to weather the prolonged crypto winter. The goal of these decisions was to cut operational expenses. However, the U.S.-based cryptocurrency exchange decided to expand its partnership with famous Bundesliga club Borussia Dortmund. The cost of this operation has yet to be disclosed.

The deal turns the exchange into a Premium Partner of the German club. With the new terms, Coinbase, which already displayed ads on the screens inside the stadium, will provide education about the crypto ecosystem to the team’s workforce. The deal will last until June, but could be extended depending on the market.

The German Federal Financial Supervisory Authority, also known as BaFin, had ordered in November that Coinbase needed to address certain issues on the organizational level, in order to comply with the standards of the German Banking Act.

Coinbase is the latest exchange to enter the soccer field. sponsored the FIFA World Cup Qatar 2022, Binance partnered with famous player Cristiano Ronaldo to drop a series of NFT collections, the first of which dropped during the World Cup, but is also the main partner on the Lazio Roma’s jerseys.

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Greetings! My name is JP, I am based in the US and I am proud to be an author for Krypto Channel. Our news media company is committed to making crypto accessible to everyone, and my area of focus is on the entertainment and lifestyle side of things. Through my articles, I highlight how individuals and businesses are utilizing cryptocurrency in hotels, real estate, boats, cars, watches, and jewelry, and showcase the impressive rate of adoption around the world. My content includes both written articles and video features that take a deep dive into the world of crypto. I conduct interviews with prominent figures in the industry and provide viewers with an insider's look at the latest trends and innovations. As someone who is passionate about the transformative power of crypto, I am excited to be a part of Krypto Channel. Together, we can explore the amazing world of cryptocurrency and all the ways in which it is changing the way we live and work.
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