Zondacrypto, the title sponsor of Canyon//SRAM zondacrypto, is under growing scrutiny in Poland. In the last 10 days, reporting has focused on delayed withdrawals, liquidity concerns, and a prosecutor investigation. On April 16, 2026, CEO Przemyslaw Kral said the company held around 4,500 BTC in a cold wallet, but claimed the keys were never transferred during an earlier handover. On April 17-18, the case escalated further with a criminal probe and political accusations from Prime Minister Donald Tusk. These are serious allegations, but they should be attributed carefully.
From the cycling side, there is still no clear sign that Canyon//SRAM zondacrypto has changed its public position or operations. Cyclingnews reported on April 15 that Zoe Bäckstedt extended her contract through 2028, so for now this looks more like a sponsorship-risk story than a sporting one.
Reported withdrawal delays for users
claims about a sharp drop in visible Bitcoin reserves
transfers to Kraken
unpaid sponsorship payments to some football clubs
layoffs
political links around Polish crypto regulation
the CEO’s defense that this is a technical/security issue, not insolvency
I have no idea how any crypto related sponsorships get through any level of due diligence checks. The whole crypto world is rotten to the core, with a lot of speculators happy to try make a quick buck from this rot
Because if you were a team GM, needing to find a sponsor, and the only option at the time was a crypto company showing a load of enthusism to hand over a load of cash (or questionable Energy Drink brand - see Rich Energy), you’d likely take it over the alternatives (team having to shell it’s best riders and/or staff, or at worst, fold entirely).
It’s a reflection of the precarious nature of the sport of professional cycling more than anyone’s ability or otherwise to carry out decent (and then be willing to pay notice to) any due diligence checks.
