Atlético Madrid sues WhaleFin over unpaid €40m sponsorship

Spanish football club “Atlético Madrid” has filed a lawsuit against the Bitcoin exchange WhaleFin over non-payment under a sponsorship contract worth €40m ($44m). Protos.

Ahead of the 2022/23 season, the team signed a five-year contract with the Singaporean firm, but now contends that the platform breached it by failing to pay the promised amount. The club seeks €20m in damages.

In December 2022, the owner Amber Group — terminated the contract with Chelsea amid financial difficulties. At the same time the company announced layoffs of 40% of its staff.

In September, Amber conducted the first round of optimization of its staff.

In November, Annabelle Huang, the managing partner of the cryptocurrency platform заявила, that about 10% of trading capital was stuck on the bankrupt FTX exchange.