Chiliz made a “strategic withdrawal” from the U.S. market in 2022, citing regulatory uncertainty and the fallout from the FTX collapse.
Chiliz, a SportsFi firm, has engaged with the U.S. Securities and Exchange Commission (SEC) to explore investment opportunities and a return to the U.S. crypto market, encouraged by a crypto-friendly White House and growing efforts to establish clearer regulations for digital assets.
As revealed in a publicly available SEC meeting request, Chiliz is aiming to reenter the U.S. market around the 2026 FIFA World Cup, with plans to invest between $50 million and $100 million locally. Reports suggest that NBA and NFL teams may explore launching fan tokens, contingent on improved regulatory clarity.
The meeting with the SEC took place on April 22, the same day Chiliz CEO Alexandre Dreyfus posted a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, hinting at a possible second meeting with White House representatives.
The meeting document indicated that Chiliz presented the structure of its proposed fan token, arguing that it “should not be considered a security.” Generally, a security is defined as an investment where profits are expected from the efforts of others, not the investor themselves.
The question of whether cryptocurrencies and related assets qualify as securities has been central to the regulation of Web3 in the United States.
Despite its collaborations with football clubs, esports teams, and racing organizations, Chiliz has experienced a sharp decline in ecosystem activity. According to DefiLlama, the platform’s total value locked dropped from $17.8 million on December 9, 2024, to $6.5 million by April 22, 2025—a 63.5% decrease.
The performance of its governance token has also been underwhelming. CoinMarketCap reports that the price of the Chiliz (CHZ) token has fallen by 67% over the past year. Chiliz is best known for its fan tokens, which let fans own official cryptocurrencies tied to their favorite sports teams.
The company has expanded its presence in the soccer world through partnerships with major clubs such as FC Barcelona, Paris Saint-Germain, Manchester City, and several others.
According to the document, Chiliz invested $80 million in U.S. partnerships in 2021. However, due to regulatory uncertainty and the aftermath of FTX’s collapse, the company made a “strategic exit” from the market the following year.
The upcoming World Cup is scheduled for June 2026, with the United States serving as the primary host nation, and Canada and Mexico participating as co-hosts for select matches.
Chiliz, a SportsFi firm, held discussions with the U.S. Securities and Exchange Commission (SEC) about investing and reentering the U.S. crypto market, amid a more crypto-supportive White House and growing calls for clearer digital asset regulations.
As outlined in a publicly released SEC meeting request, Chiliz aims to reenter the U.S. market around the 2026 FIFA World Cup, backed by a $50 million to $100 million local investment. Reportedly, several NBA and NFL teams are considering launching fan tokens, pending improved regulatory clarity.
The meeting with the federal agency was held on April 22 — the same day Chiliz CEO Alexandre Dreyfus shared a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, suggesting a second meeting with White House officials.
The meeting with the SEC took place on April 22—the same day Chiliz CEO Alexandre Dreyfus posted a photo alongside Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets—hinting at a potential follow-up meeting with White House officials.
The meeting document revealed that Chiliz outlined the structure of its proposed fan token and argued that “it should not be considered a security.” In general, a security is defined as an investment where profits are expected from the efforts of others, not the investor themselves.
Determining whether cryptocurrencies and related assets qualify as securities has remained a central challenge in regulating the Web3 space in the United States.
Despite its collaborations with football clubs, gaming organizations, and racing teams, Chiliz has experienced a sharp decline in ecosystem activity. According to DefiLlama, the protocol’s total value locked dropped from $17.8 million on December 9, 2024, to $6.5 million by April 22, 2025—a 63.5% decrease.
The company has established a strong presence in the soccer industry, forming partnerships with major clubs like FC Barcelona, Paris Saint-Germain, Manchester City, and several others.
Chiliz invested $80 million into U.S. partnerships in 2021, according to the document. However, ongoing regulatory uncertainty and the impact of FTX’s collapse prompted a “strategic exit” from the market the following year.
The next FIFA World Cup is scheduled for June 2026, with the United States serving as the primary host nation, and Canada and Mexico participating as supporting co-hosts.
