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Lionel Messi’s Inter Miami replaces crypto firm XBTO with new sponsor

Lionel Messi’s Inter Miami replaces crypto firm XBTO with new sponsor
Inter Miami CF will not sport the XBTO logo this season. Credit: Yaroslav Sabitov/Shutterstock
  • Lionel Messi's Inter Miami has new jerseys.
  • SEC delays decisions on spot Ether ETFs.
  • Crypto banker Sygnum raises $40 million.

Messi’s Inter Miami replaces XBTO with cruise line

Inter Miami CF and its team captain, Lionel Messi, will give up the jersey logo of crypto investment company XBTO for the 2024 season, and instead will feature the crowned anchor symbol of Royal Caribbean Cruises, according to a statement that contained no financial details but did reveal how the new jerseys could be purchased.

XBTO CEO Philippe Bekhazi said in a post on X: “Our deal was three seasons and we moved on. Love the team, love Miami.” He was not as happy with some of the headlines that were written about the move, apparently.

Since the 2022 collapse of crypto exchange FTX, the crypto industry has seen a parting of the ways in some of the high-profile sponsorships entered into with sports franchises.

The NBA’s Miami Heat, for example, played in FTX Arena after a deal was reached in 2021, but the sponsorship was ended in 2023 after the crypto exchange entered bankruptcy.

SEC delays decision on Grayscale, BlackRock spot Ethereum ETFs

The US Securities and Exchange Commission delayed a decision on whether crypto asset manager Grayscale Investments can convert its Ethereum trust product into a spot ETF, after a day earlier delaying a decision on BlackRock’s application to launch a similar product, Reuters reported.

The SEC approved 11 spot Bitcoin ETFs earlier this month.

Crypto banker Sygnum raises $40m in oversubscribed round

Global digital asset banking group Sygnum said in a statement that it had raised more than $40 million in its latest funding round, leaving the company valued at about $900 million.

The crypto banker’s funding round was oversubscribed, with an initial target of $35 million. Azimut Holding was the lead investor.

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Sygnum holds a banking licence in Switzerland and has CMS and Major Payment Institution Licences in Singapore. It is also regulated in Abu Dhabi and Luxembourg.

Crypto market movers

  • Bitcoin is up 1.54% today at $37,394.98.
  • Ethereum is up 0.61% today at $2,056.85.

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