Twitch’s Ad Acceptance Policy only refers to advertising sold by Twitch Advertising and doesn’t cover any relationships that content creators and streamers may have with their sponsors.

This statement is true. Twitch's Ad Acceptance Policy specifically governs advertising sold and served by Twitch Advertising. It outlines the standards and requirements for ads that appear on the platform through Twitch's own ad sales channels. This policy does not extend to the direct sponsorship agreements or brand deals that individual content creators and streamers independently negotiate and manage with third-party sponsors. Those creator-sponsor relationships are typically governed by separate agreements between the creator and the sponsor, although creators must still adhere to Twitch's Community Guidelines and Terms of Service regarding content disclosure and conduct.