Manchester City Faces Scrutiny as Sponsor OKX Fined $504 Million
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7 Articles
A new crisis is putting Manchester City in the spotlight, after the conditions of his shirtkeeper raised wide questions about the continuing partnership between the two parties.
Manchester City — Group City's parent club, a conglomerate held by Bahia's SAF, has once again dealt with an out-of-field situation involving one of its trading partners. This time, the case is related to OKX, a cryptocurrency company that maintains a sponsorship agreement with the English club.The company was fined 504 million (R$2.5 billion) in the United States for violations related to money laundering standards.According to information from…
OKX, a sponsor of the Manchester City T-shirt, has been fined 400 million pounds by the United States for money laundering. Directed by Chinese billionaire Mingxing "Star" Xu, the cryptocurrency company has been involved in scandals around the world. Last year it was already fined 381 million pounds for the same reason. A New York court stated that it "facilitated more than $5 billion in suspicious transactions and proceeds of criminal origin." …
Manchester City have come under fire for their continued partnership with cryptocurrency firm OKX after the company was fined nearly £400m for breaching anti-money laundering rules. OKX has been one of City's main sponsors since 2022 and the company's logo adorns the team's shirt sleeves. Last year, the company was fined $504m (£381m) in the US.
The situation surrounding Manchester City continues to deteriorate after it became clear that one of the club's main sponsors, the Chinese company OKX, has been fined nearly £400 million by US authorities for violating anti-money laundering rules, the Sun newspaper reports. The crypto exchange, which is a partner of a
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