City’s sponsorship agreement with cryptocurrency exchange OKX has returned to the spotlight after a report highlighted regulatory action taken against the company in the United States last year.
The development itself isn’t new. In February 2025, OKX pleaded guilty in the US to operating an unlicensed money-transmitting business and agreed to pay more than $500m (£400m) in penalties.
According to the US Department of Justice, prosecutors said the company had facilitated more than $5bn in suspicious transactions and criminal proceeds.
There is no suggestion that Manchester City were involved in the conduct that led to the US case.
City’s OKX partnership remains in place
OKX first became a City partner in 2022 before the relationship was expanded the following year, when the company became the club’s official sleeve partner.
The partnership remains prominent, with City’s official website continuing to list OKX among the club’s commercial partners. The relationship has received renewed attention after The Sun revisited the US case and questioned City’s continuing association with the company.
According to the newspaper, City said appropriate due diligence is carried out on commercial partners. OKX declined to comment to a tabloid. The US action related to OKX’s own historic operations and resulted in the company admitting an offence more than 18 months ago. It does not represent a new fine or regulatory action against OKX this week.
Nor is there any suggestion of regulatory action against City in connection with the matter. What has changed is the attention being placed on a commercial partnership that has continued since the US case was concluded. City and OKX remain partners, with the cryptocurrency exchange still appearing on the club’s official list of sponsors.
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