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UK freezes $13.5M linked to Premier League-Sorare crypto deal

The U.K.'s National Crime Agency has frozen approximately $13.5 million in funds linked to a licensing deal between the Premier League and the crypto fantasy platform Sorare. While Sorare denies being the subject of the investigation, the NCA is examining potential criminal activity related to third parties involved in the payments. This development follows a warning from the Financial Conduct Authority about unauthorized crypto sponsorships and a separate prosecution against Sorare for operating gambling services without a license. AI

RANK_REASON Regulatory action involving a major sports league and a crypto platform. [lever_c_demoted from significant: ic=1 ai=0.1]

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

UK freezes $13.5M linked to Premier League-Sorare crypto deal

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5 / 100
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Research
Regulatory action involving a major sports league and a crypto platform. [lever_c_demoted from significant: ic=1 ai=0.1]
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Low
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Breaking (< 6h)
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Camila Grigera Naón ·

    A crypto fantasy platform has left the Premier League tangled in a $13.5 million U.K. criminal probe

    Authorities are investigating a payment deposited into one of the league’s bank accounts.