Spanish Regulator Tells off Soccer Star Andres Iniesta for Promoting Binance
Andres Iniesta, a legend soccer player who helped Spain win 2010 World Cup, recently promoted Binance cryptocurrency exchange on several social media platforms.
The National Securities Market Commission (CNMV), however, warned him that promoting these investments is not smart since digital assets are unregulated and carry significant risks.
Iniesta’s Binance Affair
Andres Iniesta, a soccer player for the Japanese Vissel, uploaded a photo of himself on Twitter and Instagram on Wednesday. He is seated in front of a screen with the Binance logo.
Estoy aprendiendo como empezar con las criptomonedas con @BinanceES #BinanceForAll
I’m learning how to get started with crypto with @binance #BinanceForAll pic.twitter.com/3Km58KrnPG
— Andres Iniesta (@andresiniesta8) November 24, 2021
This post was hugely popularized by nearly 300,000. People liked it on Instagram within a day.
A few hours later, the Spanish market regulator CNMV responded to Iniesta’s publication. It asked the soccer player to learn more about bitcoin and other altcoins prior to investing or recommending to others. According to the watchdog, these assets aren’t regulated and could pose increased risks for investors.
Reuters reported that there was no evidence that Binance had been given any financial support to help him reach his 38 million followers.
Andres Iniesta, 37 years old, is considered to be one of the greatest ever midfielders. He scored the winning goal against Netherlands in the FIFA World Cup Final 2010. Spain was thus awarded the soccer throne. He left a lasting legacy, however, playing for FC Barcelona from 2002 to 2018, where he was an idol for local fans.
Andres Iniesta Source: The Independent
Barca’s Crypto Endeavors
The Spanish club joined forces with NFT platform Ownix earlier this month to create a collection of non-fungible tokens. These digital collectibles are meant to represent iconic moments in the team’s past, such as the 75 trophies it won in Spain and 5 UEFA Champions League title titles.
FC Barcelona ended their partnership with FC Barcelona just a few days after Moshe Hogeg, an Israeli crypto mogul connected to the NFT market, was charged with falsifying corporate documentation, and sexual assault. The soccer club released the following statement:
“Following the information received today that is contrary to the Club’s values FC Barcelona has decided to cancel the contract with Ownix to create and market NFT Digital Assets with immediate effect.”
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