Sports fans face losses as IQONIQ platform liquidates and token value plummets

"Fan engagement blockchain platform" IQONIQ went into liquidation late January 2022, taking down its token sale platform and crashing the value of the fan-owned coin by over 90%. The platform had major sponsorship deals with multiple Formula 1 teams, European soccer clubs, and the Spanish La Liga league, which it owes €820,000 ($914,500). The collapse of such a major and highly-visible platform led the Football Supporters' Association to call for more regulations on cryptocurrency platforms.