An interesting piece in The Block (behind a paywall though) looking at the relationship between sport and crypto companies, and the inherent risks in these deals — something that we’ve flagged previously. There will be further unravelling of hastily made and poorly structured sports partnership deals this year for sure.

Done correctly — and that’s not just the deal itself, but the marketing activation that follows — these partnerships offer massive benefits to both sides. But to avoid what is inevitably a messy, expensive and high profile end, there needs to be a much more stringent approach to due diligence from all parties well before money changes hands.

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98-year old Chairman of Berkshire Hathaway Charlie Munger’s call for crypto to be banned and comparing it to a venereal disease will be music to the ears of crypto maxis — just like Berkshire’s 91-year old CEO Warren Buffett’s “Bitcoin is probably like rat poison squared” comment a few years ago. Buffett and Munger may well both have the gift of creating fantastic soundbites (and a collective stunning life-long investment record) but every time they comment on crypto in this way it seems like a stunning own-goal. There is no better way to illuminate the dramatic increase in influence of crypto than by these increasingly lurid comments from the grandfathers of TradFi (or SadFi as sometimes referred to on the Bankless podcast). #WAGMI, but don’t expect Buffett and Munger to join the party.

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