SportsFi firm Chiliz is planning a strategic re-entry into the U.S. crypto market, spurred by a meeting with the Securities and Exchange Commission (SEC) and a generally more favourable regulatory environment under the current administration.
According to documents released by the SEC, Chiliz intends to time its comeback with the 2026 FIFA World Cup, backed by a $50 million to $100 million investment. The company anticipates interest from NBA and NFL teams in launching fan tokens, provided regulatory clarity continues to improve.
The meeting with the SEC occurred on April 22. CEO Alexandre Dreyfus also posted a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, hinting at broader discussions with White House officials.
A key topic during the SEC meeting was the classification of fan tokens. Chiliz argued that their fan tokens should not be categorised as securities. The determination of whether cryptocurrencies and related assets qualify as securities has been a persistent regulatory challenge in the Web3 space within the United States.
Despite partnerships with major sports entities, Chiliz has experienced a downturn in its ecosystem’s activity. Data from DefiLlama indicates that the total value locked (TVL) in Chiliz protocols has decreased from $17.8 million on December 9, 2024, to $6.5 million as of April 22, 2025, a 63.5% drop.
Additionally, the Chiliz (CHZ) token has seen a 67% price decline over the past year, according to CoinMarketCap.
Chiliz, the blockchain platform behind Socios.com, is looking to re-enter the U.S. market ahead of the 2026 World Cup, which will be hosted primarily in the United States. The company invested $80 million in U.S. partnerships in 2021 but pulled back in 2022 due to regulatory concerns and the FTX collapse.
In October 2024, Socios.com received in-principle approval for a Class 3 Virtual Financial Assets Act (VFAA) license from the Malta Financial Services Authority, which may help pave the way for its U.S. expansion.
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