Rumor is Crypto.com has liquidity issues and people are panic that the exchange will be collapses like FTX.
I don't know the rumor is true or untrue but it is impossible for them to actually be a sponsor for World Cup and withdrawn just about a week before its start. It is impossible as money should be spent long time ahead of World Cup.
About news for their sponsorship deal that last 5 years, I think it is a good one if they actually made it. I agree with you too that with five years and a lot of matches in stadiums, on televisions and around many countries, they will get more good returns.