Cryptocurrency
Amber Group Partners With Chelsea FC as Official Sleeve Sponsors
Amber Group Partners With Chelsea FC as Official Sleeve Sponsors
- Chelsea announces Official Sleeve Partnership with Amber Group.
- The cryptocurrency brand Whalefin will replace Korean company Hyundai’s logo in 2022-23.
- Besides Chelsea, Liverpool and Manchester United also consider partnerships with crypto companies.
Chelsea Football Club has signed a partnership deal worth £20 million per year today with Amber Group-backed crypto platform WhaleFin, to become their Official Sleeve Partner from the 2022/23 season.
The blues confirmed on their official website and social media page that WhaleFin’s logo, which features a blue whale, will adorn the kit of both men’s and women’s teams from the beginning of the upcoming season, replacing the Korean car manufacturer Hyundai after four years.
The football club is also considering replacing their main shirt sponsor Three, a British telecom company.
We’re excited to reveal @WhaleFinApp, the digital asset platform powered by @ambergroup_io as our new sleeve partner from the 2022/23 season! #AmberGroup | #WhaleFin
— Chelsea FC (@ChelseaFC) May 12, 2022
As the first digital asset partner for Chelsea, this historical partnership enables Amber Group to introduce WhaleFin to Chelsea fans and football fans around the world who tune into the Premier League each season.
Speaking of the collaboration with WhaleFin, Chelsea Chief Executive, Guy Laurence mentioned:
This is a hugely exciting partnership for the club, which aligns us with one of the most advanced digital asset companies in the world
Micheal Wu, the CEO of Amber Group stated that the “game’s ability to rally a global audience regardless of culture, language and nationality” can help promote digital assets.
This agreement sets the ingress for Chelsea into the world of crypto. Meanwhile, Liverpool is considering a cryptocurrency firm to replace their shirt sponsorship with Standard Chartered (OTC:SCBFF) and Manchester United announced a multi-year partnership with blockchain group Tezos, whose name will emblazon on their training gear.
Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears.
While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman Sachs (NYSE:GS) and Barclays (LON:BARC) joined several other institutional investors in a $70 million Series A funding round by institutional trading platform Elwood Technologies.
Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS
Bitcoin (BTC) has been relatively calm during the weekend as crypto traders try to rebuild the markets after the Terra LUNA debacle. With macro factors not supportive, several analysts expect the recovery to be a slow grind.
Crypto research firm Delphi Digital said in a recent report that the rally in the United States dollar index (DXY) had pushed its 14-month relative strength index “above 70 for the first time since its late 2014 to 2016 run up.”
Crypto capital gains one of four key areas for Australian Tax Office
The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022.
A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies between income brackets and duration of ownership, but in general, the rate is reduced for assets held longer than 12 months.
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