OKX Expands Manchester City Sponsorship Amid Crypto Industry Scrutiny

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The cryptocurrency exchange OKX has significantly strengthened its presence in elite sports by expanding its partnership with Premier League and UEFA Champions League winners Manchester City, marking a bold move in the post-FTX era of heightened scrutiny within the digital asset space. Despite widespread skepticism surrounding crypto firms following the dramatic collapse of FTX in late 2022, OKX is pushing forward with confidence—securing a $70 million, three-year sponsorship deal that will see its branding feature on the sleeve of Manchester City’s official match kits starting next season.

This expansion builds on OKX’s existing role as the club’s official training kit partner, further embedding the exchange into one of football’s most globally recognized brands. The deal reflects not only a major financial commitment but also a strategic effort to restore trust in crypto sponsorships through transparency and verifiable security practices.

Rebuilding Trust in Crypto Sponsorships

In recent years, high-profile collapses like that of FTX have cast a long shadow over the credibility of cryptocurrency companies engaging in sports marketing. Once a booming trend—where exchanges like FTX and Crypto.com secured stadium naming rights and jersey placements—crypto sponsorships have since faced increased due diligence from sports organizations wary of reputational risk.

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Manchester City, along with other OKX partners such as McLaren Racing in Formula 1, did not take this decision lightly. According to Haider Rafique, Chief Marketing Officer at OKX, the club and its stakeholders conducted thorough audits of the exchange’s financial health and operational integrity.

“They wanted reassurance we wouldn’t end up like FTX,” Rafique said in an interview with CoinDesk. “Instead of responding individually, we opened our books—through proof of reserves—and invited them to verify our solvency firsthand.”

What Is Proof of Reserves?

Proof of reserves (PoR) is a cryptographic audit mechanism that allows exchanges to publicly demonstrate they hold sufficient assets to cover all user deposits. Using Merkle tree structures, exchanges can cryptographically prove that customer funds are backed 1:1 without exposing sensitive personal data.

This method gained prominence after the FTX collapse, which revealed a catastrophic lack of transparency and misuse of customer funds. In contrast, OKX has implemented regular third-party audits and real-time PoR verification tools to ensure full accountability.

Rafique emphasized that Manchester City’s board members were actively involved in reviewing these reports, sending direct inquiries and demanding clarifications. “They were being very critical of us,” he noted. “Passing their litmus test is a real validation for us.”

Such rigorous vetting underscores a broader shift in how traditional institutions evaluate crypto partnerships—not just based on brand visibility or marketing potential, but on financial transparency, regulatory compliance, and long-term stability.

Why Sports Sponsorships Still Matter for Crypto

Despite past setbacks, sports sponsorships remain a powerful channel for crypto platforms to reach mainstream audiences. Football, in particular, offers unparalleled global reach: Manchester City boasts over 600 million followers across social media platforms, spanning continents from Asia to Latin America.

For OKX, aligning with a forward-thinking, innovation-driven club like Manchester City allows it to associate its brand with excellence, technology, and global ambition.

Moreover, the expanded sponsorship includes co-branded fan engagement initiatives, educational campaigns about blockchain technology, and exclusive digital experiences—possibly leveraging NFTs or token-gated access in the future.

These efforts aim to go beyond mere logo placement, transforming the partnership into a platform for crypto literacy and community building.

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FAQ: Addressing Common Questions About OKX and Its Sponsorship Strategy

Q: Why is OKX investing heavily in sports sponsorships after the FTX collapse?
A: While the FTX fallout damaged trust in crypto brands, it also created an opportunity for transparent, well-capitalized exchanges like OKX to differentiate themselves. By partnering with reputable organizations and undergoing public audits, OKX demonstrates its commitment to accountability and long-term viability.

Q: How does proof of reserves protect users?
A: Proof of reserves ensures that an exchange holds enough assets to cover all customer balances. This prevents fractional reserve practices and reduces the risk of insolvency. For users, it means greater confidence that their deposits are safe and fully backed.

Q: Is OKX regulated?
A: OKX operates under regulatory frameworks in multiple jurisdictions and continues to work with authorities to comply with local laws. While regulations vary by region, the company emphasizes transparency, user protection, and adherence to anti-money laundering (AML) standards.

Q: Will more football clubs adopt strict audit requirements for crypto sponsors?
A: It’s highly likely. Following the FTX case, clubs are now treating crypto partnerships like any major corporate alliance—requiring financial disclosures, risk assessments, and ongoing oversight. This trend will help rebuild credibility across the industry.

Q: Does this sponsorship include NFTs or Web3 integrations?
A: While details are still emerging, OKX has previously launched NFT marketplaces and wallet solutions. Future collaborations with Manchester City could involve digital collectibles, fan tokens, or immersive metaverse experiences aimed at enhancing global engagement.

A Strategic Move Beyond Marketing

OKX’s expanded deal with Manchester City isn’t just about visibility—it’s a statement of resilience and responsibility in an industry still rebuilding trust. At a time when many crypto firms have retreated from public-facing campaigns, OKX is stepping forward with financial backing, technical transparency, and strategic patience.

The $70 million investment signals long-term confidence in both the sport and the evolution of digital finance. More importantly, it sets a new benchmark: crypto sponsorships must now be built on trust, not just hype.

As football clubs become more sophisticated in evaluating potential partners, exchanges that prioritize auditable reserves, regulatory clarity, and user security will stand out—not only as sponsors but as credible players in the global financial ecosystem.

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Final Thoughts

The fusion of sports and cryptocurrency is far from over—it’s simply entering a more mature phase. With OKX leading by example through rigorous transparency measures and high-impact partnerships, the path forward for responsible crypto branding is becoming clearer.

For fans, investors, and institutions alike, this new chapter represents not just recovery from past failures, but the foundation of a more accountable digital economy.

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