Web3 Watch: Binance seems likely to retain its sports partnerships despite DOJ actions

Plus, Solana NFT collection partners with ZARA and OpenSea fees tumble

article-image

Cristiano Ronaldo | oday jamil moari modified by Blockworks

share

Soccer star Cristiano Ronaldo faces a class action lawsuit in Florida for his allegedly “deceptive and unlawful” promotion of Binance, which recently settled with the US Department of Justice.

But Ronaldo appears unbothered, posting on X this week that he’s “cooking something up” with the exchange.

Ronaldo’s continued involvement highlights a larger trend: Binance’s long list of sports partnerships seem to remain intact despite the Department of Justice’s actions against the centralized exchange and its former CEO, Changpeng Zhao. 

Binance has had several sports partners, particularly in soccer, including as Argentina’s fan token provider during its World Cup run. Binance ended its partnership with Argentinian soccer this summer.

Pet Berisha, author of the “Sporting Crypto” newsletter, told Blockworks that Binance’s deals are likely safe because assuming the exchange remains solvent, it can still meet its payment obligations — unlike FTX, which had to renege on its deals.

Because of the demographic overlap between sports fans and crypto users, Berisha said he expects crypto projects to continue their sports advertising spending, though he expects Binance “will refrain from spending until the noise dies down here and they’ve built up a cash reserve.”

‘Okay Bears’ go live at ZARA

The Solana NFT collection Okay Bears has a set of shirts with its branding available in 1,149 ZARA stores worldwide. 

The shirts are only listed in kids’ sizes on ZARA’s website. Okay Bears and ZARA did not return requests for comment about the specifics of the partnership. 

The partnership follows on Pudgy Penguins’ move to bring toy versions of its NFTs to 2,000 Walmart stores in September. 

Solana NFT volumes hit their highest point in over a year on Wednesday, according to @punk9059 on X.

One interesting stat:

  • OpenSea, the embattled NFT marketplace, earned less than $2 million in fees in October, down from a high of $387 million in January 2022, according to a Dune dashboard. 

Also of note:

  • Magic Eden is rolling out a wallet to pair with its cross-chain NFT platform. The wallet works with Bitcoin, Solana, Ethereum, and Polygon.
  • On-chain collectible platform Zora introduced Notes, where users can mint bits of text, and is now allowing users to get started on the platform with just an email address rather than a crypto wallet.

Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors

article-image

The ETH products have notched $3.6 billion of net inflows from July 1 to July 22, Farside Investors data shows

article-image

With these levies, it’s cheaper for Japanese manufacturers to send cars to the US than it is for domestic makers to import parts from other countries