UK NCA Freezes $13.5M in Sorare Probe Over Unlicensed Crypto Gambling Claims

The UK's National Crime Agency (NCA) has frozen approximately £10 million ($13.5 million) in cash as part of an investigation into blockchain-based fantasy sports platform Sorare, according to a Monday report from UK outlet The Sun. The freeze followed a January 2025 order from Westminster Magistrates' Court, with the funds held "to prevent dissipation of the funds while the NCA investigates any potential links between those funds and alleged third-party criminality," an NCA spokesperson said. Sorare, which operates digital blockchain trading cards, is facing scrutiny over allegations of unlicensed gambling activity in the UK.

Sorare's profile in British sports rose significantly in 2023 when it signed a four-year, $162 million partnership with the Premier League, though that deal was terminated at the end of the 2024-2025 season. The probe comes as UK regulators intensify scrutiny of crypto-linked sponsorships. In June, the Financial Conduct Authority (FCA) sent warning letters to Premier League clubs about "questionable sponsorship deals" involving firms not authorized to operate in the UK, including crypto companies. Current season sponsors with crypto exposure include stablecoin issuer Circle (Chelsea) and exchange OKX (Manchester City).

The Sorare investigation reflects a broader cooling of crypto sports sponsorships globally, with deal volume declining since 2022 amid market downturns and reputational concerns tied to the industry. UK authorities have separately reported 240 crypto millionaires in 2025, highlighting the sector's continued growth despite regulatory headwinds. The NCA's frozen funds remain under investigation, and no charges have been publicly announced against Sorare or its executives as of publication.