An exclusive report released by UK tabloid The Mirror details a major cause for concern regarding the prolificacy of professional soccer (football) players who are facing financial trouble as a result of investing in crypto. The problem is said to be so serious, in fact, that the Professional Footballers Association (PFA) has set up a training course specifically focused on this problem.
The new PFA course was set up to “address the crypto problem in the union’s welfare department,” an issue The Mirror likens to gambling. report, the association is concerned that investing in the crypto market has become a growing trend among players. People who are already predisposed to gambling habits “or similar addictions” are particularly at risk and vulnerability.
Arguably, it is often much easier for individuals to access cryptocurrency investment products and services, compared to investing in more traditional asset classes. There is also a relatively low barrier to access for creators and providers of tokens to produce worthless cryptocurrency (often by copying and pasting existing open source code) and gaining visibility through listings on scholarships.