A recent report by United Kingdom tabloid The Mirror has indicated that the Professional Footballers Association (PFA) has established a training course to protect its member from various problems, especially financial troubles associated with crypto investment.
The report presents PFA’s position as one that is worried about the increasing trend of crypto investment among players, especially those easily influenced by gambling or related activities. Its establishment of a training course is aimed at tackling these issues which would be handled under the Wellbeing Department of the association.
The detailed report also highlights some of the issues that the association considers as threats in cryptocurrency investment. This includes accessibility to cryptocurrency investment products and services, exposure to worthless cryptocurrency that has no solid project backing them, plus the huge inherent markets volatility of the industry.
“Players are known to be placing huge sums based largely on the names of currencies or even it having attractive symbols,” the report reads in part.
While there is no denying that we have witnessed an incursion of sports into crypto, the two industries have made certain notable progresses in a number of partnerships.
Already, leading crypto exchange, FTX, has signed a number of athletes as its ambassador while a number of sporting clubs have also adopted several pro-crypto measures like accepting it as a means of payment for some of their merchandise etc.