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

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


Cristiano Ronaldo | oday jamil moari modified by Blockworks


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.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit