Barnsley FC is attempting to end its shirt sponsorship deal with crypto platform HEX.com due to an investigation into discriminatory social media posts.
The League One club received concerns from its Supporters Trust, which claimed individuals of HEX.com – some who even brokered the deal which was announced last week – regarding the social media posts in question.
Barnsley released a statement stating they were investigating the posts and announced this morning they will take the necessary steps to end the relationship with immediate effect.
The statement reads: “Barnsley Football Club values our fans and our core beliefs above everything else. Following recent events and a subsequent investigation, the club has assessed its relationship with its front of shirt sponsor and has taken steps to end that relationship with immediate effect.
“The HEX.com logo will not appear on the team’s kits going forward. Further comment will be issued in due course.”
HEX.com operates as a crypto and blockchain platform that is regarded as the first high-yield blockchain Certificate of Deposit (CDs), which it uses to facilitate cryptocurrency trading on the site.
The Barnsley Supporters Trust is currently working alongside the Football Supporters Association to call on football authorities to create a groundwork for any cryptocurrency partnership for football clubs.
Cryptocurrencies are still largely unregulated within the UK, although a crypto bill was proposed in Parliament last month under the revised Markets bill. It falls in line with ex-Chancellor Rishi Sunak’s comments on aiming to build the UK into a global hub for crypto.