It was announced earlier that Manchester City, a premier English soccer club, would go in partnership with a crypto company for the sake of regulating digital assets as a mode of payment. The whole thing was almost finalized, but then at the very last moment, there were some red flags that started to hoist in the air and couldn’t be left tingling on the strong currents of speculation. The company in question is 3KEY technologies, and according to Manchester City, the deal has been put on hold.
There are further inquiries to be made around the fact that whether the company exists in reality or is just a dubious entity with no real-world operations. The first big bell of warning rang for Manchester City when they did Internet research on the executives of the so-called startup crypto firm, and nothing showed up. The partnership was announced only last week, and it says a lot about the competence level of Manchester City for verifying or cross-checking the background information of a company they are about to go into a serious partnership with.
During the initial rollout of this partnership, it was announced by Manchester City that it would be featuring the brand of this dedicated crypto company on its digital assets and would extend the partnership to work on multiple events and activities for the future. The executives who were mentioned in the original statement, all four of these didn’t show up when Internet research was done by curious people. The chief marketing officer for the suspected company Ryan S Hodder didn’t have any online presence whatsoever.
The so-called official website for this suspected firm only says that it is a centralized, decentralized finance project, and that is about it. It doesn’t have any information on the executives, what they do and where one can reach out to them as they don’t have any online presence whatsoever. The biggest red flag for Manchester city should have been the promise of 150% return annually on the investment made and 100% customer satisfaction; this can be a part of a fictional world but doesn’t hold any value in real financial systems.