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Manchester City Suspends Mysterious Partnership with cryptocurrency firm amid legitimacy concerns





Premier League club Manchester City says that its partnership with cryptocurrency firm 3Key Technologies has not yet been activated. It is now conducting "further enquiries" regarding the firm amid speculation about whether or not the company actually exists.

Manchester City suspend partnership with "3Key", a start-up cryptocurrency firm whose executives do not seem to appear on internet searches. Partnership was announced last week. pic.twitter.com/Hi02Z2lxAR - Jack Gaughan (@Jack_Gaughan) November 19,2021

Manchester City announced the questionable deal with 3Key on 11th November, designating the firm as an 'official regional partner in decentralised finance trading analysis'. At the time, the announcement did not state which region the agreement applied to.

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A statement from 3Key's founder, Oliver Chen, said that the company was 'in a startup phase with a product due to launch in the coming months and that the partnership with City would be in 'regions outside the UK'.

Internet sleuths grew suspicious of the 3Key partnership when it emerged that the company's website contained no contact details, registered office or company number. None of its executives mention in the statement, including Chief Marketing Officer Ryan S. Hodder, also appeared to have no digital footprint. In the same week, websites associated with 3Key went temporarily offline.

Manchester City later sent a letter, seen by investigative reporter Martin Calladine, which identified Oliver Chen as 3key's owner and claimed the new business was based in Seychelles. However, the letter contained no contact details or company numbers, meaning nothing could be verified. Having been contacted by Calladine, Chen has so far failed to prove his business is actually real.

Man City said they would not activate any products or services linked to the partnership until they satisfied relevant regulations had been met. However, the club has now taken the decision to suspend the deal, pending further investigations. According to The Times

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