Manchester City reportedly keeps OKX sponsorship after $505M US penalty

The Sun reports Manchester City has not severed its sponsorship with cryptocurrency exchange OKX after the exchange operator’s February 2025 U.S. anti-money-laundering case. City described the partnership as long-standing and said it undertakes “appropriate due diligence.” OKX declined to comment.

Reuters reported that OKX operator Aux Cayes FinTech pleaded guilty to one count of operating an unlicensed money-transmitting business and agreed to pay nearly $505 million. The total comprised an $84.4 million fine and $420.3 million in forfeited fees.

Prosecutors said the platform facilitated more than $5 billion in suspicious transactions and criminal proceeds from 2018 through early 2024.