FC Barcelona faces criticism for $22 million sponsorship deal with crypto company ZKP

Techub News: According to Decrypt, FC Barcelona has signed a three-year global sponsorship agreement worth $22 million with cryptocurrency company Zero-Knowledge Proof (ZKP), but the move has drawn external criticism. Xavier Vilajoana, a former board member of the club, stated that reaching an agreement with this cryptocurrency startup is a sign of financial "desperation," highlighted red flags in the company's background, and called the decision extremely concerning. ZKP launched its social media accounts and whitepaper earlier this month. At the time of the agreement, ZKP had only 33 followers on the X platform. Its website does not provide detailed information about ownership and funding structure and is currently conducting an Initial Coin Offering (ICO).

FC Barcelona clarified in an official statement that the club "has no association whatsoever with the company’s token" and that the token's existence or issuance was never discussed with the club during sponsorship negotiations. The existence and issuance of the token are not part of the sponsorship agreement previously signed with the club.