In a bold move that underscores growing confidence in the digital asset sector, OKX has secured a landmark sponsorship deal worth over $70 million with Manchester City. This high-profile partnership not only reaffirms the exchange’s global ambitions but also signals a resurgence of trust between cryptocurrency platforms and elite sports organizations—despite lingering skepticism following the collapse of FTX.
Manchester City, fresh off a historic treble-winning season that included the English Premier League, FA Cup, and UEFA Champions League titles, continues its collaboration with OKX. The agreement ensures that the OKX logo will appear on the sleeve of the team’s official match kits and across training apparel during the upcoming season.
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A Strategic Move Amid Industry Skepticism
The world of professional sports became increasingly cautious about cryptocurrency partnerships after the dramatic downfall of FTX—a former industry giant that left behind a trail of broken contracts and financial turmoil. Once a major player in sports sponsorships, FTX had secured deals with the NBA’s Miami Heat, Major League Baseball, and Formula 1’s McLaren Racing team. Its collapse cast a long shadow over the entire crypto space, making many brands hesitant to engage with digital asset firms.
Yet Manchester City’s decision to extend and expand its relationship with OKX demonstrates a shift in perception. Unlike its ill-fated predecessor, OKX has taken proactive steps to build transparency and trust—most notably through its implementation of Proof of Reserves.
How Proof of Reserves Restored Confidence
One of the key factors that helped OKX win over Manchester City’s executives was its transparent financial practices. In an interview with Coindesk, Haider Rafique, Chief Marketing Officer at OKX, revealed that potential partners were deeply concerned about whether OKX could face a similar fate as FTX.
“Our partners definitely wanted to know if we would be in a similar situation to FTX,” Rafique said. “Rather than answering those questions on an individual basis, we introduced them to our proof of reserves.”
Proof of Reserves is an auditable mechanism that verifies an exchange holds sufficient liquid assets to cover all user deposits. This level of accountability has become a critical benchmark for legitimacy in the post-FTX era. For Manchester City, seeing verifiable data that OKX maintains full reserve backing was essential in moving forward with the deal.
“They were being very critical of us,” Rafique added, “so passing their litmus test is a real validation for us.”
This rigorous due diligence process ultimately positioned OKX as a trustworthy partner in an industry still rebuilding its reputation.
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Why Manchester City Stood by OKX
Manchester City isn’t just any football club—it’s a global brand with a meticulously curated image. The decision to maintain and deepen ties with a crypto exchange reflects more than just financial incentive; it reflects confidence in OKX’s operational integrity and long-term vision.
The club’s management conducted thorough evaluations before renewing the partnership. They assessed OKX’s regulatory compliance, financial health, and commitment to user protection. The transparency provided by regular Proof of Reserves audits played a pivotal role in reassuring stakeholders that this was not another speculative venture, but a responsible and sustainable collaboration.
Moreover, the partnership goes beyond branding. It includes joint initiatives focused on fan engagement, blockchain education, and digital innovation—such as exploring NFT-based experiences and tokenized fan interactions.
The Bigger Picture: Crypto’s Return to Sports
This deal marks a turning point for cryptocurrency in mainstream sports. After a period of retreat following FTX’s collapse, major leagues and clubs are beginning to re-engage—with more caution and higher standards.
OKX’s association with Manchester City sets a precedent: crypto sponsorships can return, but only when backed by transparency, accountability, and real value creation.
Other exchanges are watching closely. As regulatory frameworks evolve and user expectations rise, exchanges that prioritize auditability and security are more likely to secure elite partnerships. OKX’s success here may inspire other teams and leagues to cautiously reopen doors to digital asset companies that meet strict due diligence criteria.
Core Keywords Integration
Throughout this evolving landscape, several core keywords naturally emerge:
- OKX sponsorship
- Manchester City crypto deal
- Proof of Reserves
- crypto in sports
- digital asset partnerships
- blockchain sponsorship
- cryptocurrency exchange trust
- sports and crypto collaboration
These terms reflect both search intent and topical relevance, appearing organically within discussions around brand strategy, financial transparency, and industry recovery.
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Frequently Asked Questions (FAQ)
Q: How much is the OKX sponsorship deal with Manchester City worth?
A: The sponsorship deal is valued at over $70 million, making it one of the largest crypto-related agreements in sports history.
Q: Is OKX still partnered with Manchester City after FTX’s collapse?
A: Yes. Despite concerns stemming from FTX’s failure, Manchester City chose to continue and expand its partnership with OKX due to the exchange’s transparent practices, including Proof of Reserves.
Q: What is Proof of Reserves and why does it matter?
A: Proof of Reserves is an auditable system that proves an exchange holds enough assets to cover all customer deposits. It builds trust by showing users their funds are secure.
Q: Where will the OKX logo appear on Manchester City’s kits?
A: The OKX logo will be featured on the sleeve of the team’s official match kits and on their training gear throughout the season.
Q: Why are sports teams cautious about crypto sponsors now?
A: After high-profile failures like FTX—which had numerous sports sponsorships—teams are more vigilant. They now demand greater transparency and financial accountability from crypto partners.
Q: Can other crypto exchanges follow OKX’s model for sports sponsorships?
A: Yes. Exchanges that implement transparent systems like Proof of Reserves and comply with regulatory standards are better positioned to form trusted partnerships with major sports organizations.
Final Thoughts
The renewed alliance between OKX and Manchester City represents more than just a branding opportunity—it symbolizes a broader recovery in the relationship between cryptocurrency and mainstream institutions. By prioritizing transparency and accountability, OKX has not only survived industry-wide scrutiny but thrived in one of the most competitive arenas: global sports marketing.
As digital assets continue to mature, such partnerships will likely become more common—but only for platforms willing to prove they’re here to stay.