The current downtrend of the crypto market has negatively affected financial institutions, particularly those dealing with digital currencies.
Currently, some firms are beginning to feel the heat from a different angle. This involves sponsorship deals between these digital currency companies and sports teams. This is particular to the crypto firms that have already spent hundreds of millions on the matter.
The Crypto Winter Takes Hold
As of 2021, the news reported that many digital currency firms invested billions of dollars in sponsoring sports. These companies had believed that the same would occur in 2022, only to wake up to the dawning of the downturn in the crypto market.
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As the crypto winter