By CCN Markets: Crypto exchange OKEx isn’t concerned that the bitcoin price appears to have hit a wall just above the $10,000 mark. In fact, the industry giant believes BTC will surge another 34% to $14,000 before the end of the year, thanks to a helping hand from the US Federal Reserve. #Fed is expected to signal a further rate cut at today's Jackson Hole Symposium. An OKEx #analyst...
By CCN: The ongoing bitcoin price rally has more than enough fuel to retest the all-time high of $20,000, according to Andy Cheung, head of operations at Malta-based cryptocurrency exchange OKEx. Cheung called $20,000 a “conservative prediction,” hinting that most speculators are less likely to exit their long positions now that BTC has already rebounded by more than 180% from its low...
By CCN: It seems the Crypto Twitter movement to eradicate Bitcoin SV from all exchanges has not been totally successful. In a significant blow, massive veteran exchange OKEx has opted to keep Bitcoin SV on its platform, writing: “According to the OKEx Token Delisting and Hiding Guideline, BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time...
The liquidity of the Tron network is about to go to the next level. As we previously reported, Tether is expanding its USDT product to the Tron blockchain. Now the community has heard from a veteran exchange – USDT-Tron is going to list on OKEx. 4th Largest Bitcoin Exchange to Support USDT-Tron OKEx is the 4th largest Bitcoin exchange by adjusted volume. In a note today, OKEx says: In order to...
OKCoin is adding Tron to its crypto exchange today. Not to be confused with OKEx, which is a futures platform founded by the same people, OKCoin primarily focuses on traditional swaps and allows for bank deposits. Importantly, OKCoin serves US customers while OKEx does not. Tron is Not a Security CCN spoke to Tim Byun, CEO of OKCoin, about the decision to list Tron. CCN wonders what...
A blockchain data research firm has released a damning report which accuses several major cryptocurrency exchanges of engaging in unscrupulous activities aimed at faking bitcoin trading volumes. According to the Blockchain Transparency Institute (BTI), only three cryptocurrency exchanges of the dozens surveyed — namely Binance, Bitfinex, and Liquid — were found not to be...
Unless you’re Spencer Bogart, most people would agree that 2018 has been a dismal year for crypto–even if they don’t say it on their Twitter feeds. If you want to sum up the year in four words, you could try using these: ICOs and Ethereum are dead. Forums, Telegram groups, Slack chats, there’s no shortage of predictions for Ethereum’s collapse, ICOs futures, FUD, and personal nagging...
OKEx is currently the largest exchange by trading volume. It’s also the only exchange to offer derivatives trading as well as spot. This month, they held their NextGen conference in the swanky Ball Room of the Grand Hyatt hotel in Seoul, South Korea. With a smattering of international media and local press as well, CEO Mr. Jay Hao opened up the conference saying: We are committed to being the...
It seems that Malta is about to get a bank that will finally begin servicing crypto and blockchain companies as well as high net worth individuals, who until recently, have been shunned by traditional banks on the so-called ‘Blockchain Island’. OK Group’s investment arm, OK Blockchain Capital Limited, announced that it is the anchor investor in RnF Finance Limited, a Maltese based company...
Today brought news of OKEx exchange delisting several additional trading pairs. This is the third time OKEx has delisted a group of assets. OKEx Delisting In an announcement today on their website support page, OKEx stated the delisting of thirty-eight different cryptocurrency trading pairs. OKEx directed the announcement toward its customers, explaining the delisting of multiple assets was due...
The latest Bitcoin Cash hard fork had ramifications on the entire crypto community. Independent of whether you trade BCH, its recent split had disastrous financial consequences for many… and inspired some unorthodox moves from others. Malta-based exchange OKEx left traders furious last week after taking the decision to change the terms on $135 million Bitcoin Cash derivatives contracts. As...
Facing significant price instability ahead of tomorrow’s contentious Bitcoin Cash hard fork, major crypto exchange OKEx abruptly closed its BCH futures markets ahead of their scheduled expiration dates and provided early delivery to customers. Bitcoin Cash Fork Leads to Premature Futures Delivery The Malta-based OKEx announced the early BCH futures delivery on Wednesday, stating that it had...
OKEx, the second largest crypto exchange by volume, has announced the delisting of more than 30 trading pairs including Ripio/ETH and Monetha/BTC. The exchange cited weak trading volume as the justification for the ejections. The delistings will not take effect until the 31st. Listing and delisting is a common practice among cryptocurrency exchanges, and, depending on the size of the exchange...
Tether is experiencing an unprecedented challenge to its status as undisputed stablecoin market lodestar. With over 50 active stablecoin projects emerging around the world and even more set to debut in the weeks and months to come, these are fraught times for the stablecoin founded in 2014, as the market explores alternatives to USDT amid suspicions of overstated US Dollar reserves and lack of...
If tether (USDT) is truly backed by and redeemable for physical U.S. dollars stored in company-controlled bank accounts, the so-called cryptocurrency “stablecoin” should manage to weather this period of uncharacteristic volatility until arbitrage restores its USD peg. If not, we could be witnessing the unraveling of the token that sees more daily trading volume than any other cryptocurrency...
On September 11, photographs of Star Xu, the founder and CEO of OK Group, the parent company of crypto exchange OKEx, being investigated by Shanghai police circulated around online cryptocurrency communities. CNLedger, a trusted news source in the Chinese cryptocurrency community, reported that Xu was investigated by police officers in Shanghai after investors submitted complaints regarding a...
Shanghai police have taken OKEx founder and OKCoin CEO Star Xu into custody for voluntary questioning in relation to fraud alleged to have taken place in a relatively obscure crypto project called WFEEcoin. Local media reports that Xu’s possible connection to the project is being investigated. While Xu is allegedly a WFEE shareholder, he denies that his Shanghai company is involved in the...
Cryptocurrency exchange giant Coinbase might, as market research firm Bernstein recently said, be on the cusp of assembling an “unassailable” market share in the U.S., but that doesn’t mean that the San Francisco-based firm isn’t struggling to maintain consumer activity during the current downturn. Citing data from CoinApi, cryptoasset research firm Diar reports that USD-denominated...
Changpeng Zhao, the CEO of Binance, has officially stated that the company does not charge 400 bitcoin ($2.5 million) to list cryptocurrencies on its platform. Legitimacy of the Claim Last week, cryptocurrency researcher Christopher Franko claimed that Binance, the world’s largest digital asset exchange, has been charging cryptocurrencies a listing fee of 400 BTC to integrate them on its exchange...
In the past 24 hours, the crypto market dropped $8 billion as major digital assets including Bitcoin, Ether, and Bitcoin Cash recorded losses in the range of two to five percent. Bitcoin Cash and Stellar recorded the largest losses amongst the top ten cryptocurrencies, while Ripple and EOS remained relatively stable with a one percent gain. What is Triggering the Fall? On July 27, analysts...
OKEx has moved to protect its futures market with an injection of 2500 BTC into the exchange’s insurance fund from its own capital after a forced liquidation on July 31st threatened to destabilize its operations. The futures contract amounted to a staggering $420 million worth of BTC. OKEx moved swiftly to counter this liquidation with a series of measures that were announced on its website...
Binance, one of the world’s two largest cryptocurrency exchanges, has just completed its first-ever acquisition. According to TechCrunch, the Malta-based exchange operator acquired Trust Wallet, creator of the eponymous mobile Ethereum wallet that includes support for ether, as well as ERC-20 and ERC-223 tokens. Terms of the deal have not been disclosed, but Binance confirmed that it included a...
Malta continues to be at the forefront of the crypto space with OKEx, one of the world’s largest cryptocurrency exchanges, announcing a partnership with the Malta Stock Exchange to create a new security token trading platform. The new exchange will operate under the name OKMSX and bring together OKEx‘s expertise in the digital assett market along and the Malta Stock Exchange’s 26-year...
Crypto trading giant OKEx has become the latest industry giant to launch a cryptocurrency index fund. Announced this week and debuting on Tuesday, the product — called OK06ETT — will allow investors to invest in a basket of six cryptocurrencies through a convenient fund, shares of which will trade on the exchange against other cryptoassets. At launch, OK06ETT will include bitcoin...
Former OKEx CEO Chris Lee has joined rival cryptocurrency exchange Huobi as its vice president of global development, just days after stating that he was leaving his former employer so that he could spend more time with his family. Huobi made the announcement on Monday, explaining in a statement that Lee would help spearhead the Singapore-based firm’s international strategy as it seeks to expand...
The chief executive of one the world’s largest cryptocurrency exchanges has called it quits. Chris Lee, the head of OKEx, has resigned from the Hong Kong-based exchange just as it was executing major international expansion plans and was on track to become the most widely-used cryptocurrency trading platform. OKEx did not immediately respond to a request for comment, but the company told...
Cryptocurrency exchange OKEx has suspended deposits of all ERC20 tokens after the alleged discovery of a serious bug in at least 12 smart contracts built to this token standard. In a statement published Tuesday, the Hong Kong-based exchange — third-largest in the world as measured by daily trading volume — announced the suspension of deposits, explaining that attackers have exploited...
Another major cryptocurrency exchange is about to set up shop in Malta, cementing the small Mediterranean island nation’s status as a burgeoning hub for cryptocurrency startups. OKEx, the world’s second-largest cryptocurrency exchange as measured by daily trading volume, on Thursday announced that it will open an office in Malta and make it a “foundation for further OKEx growth.” “Malta’s Virtual...
Cryptocurrency exchange giant OKEx is pushing back against allegations that it is responsible for market manipulation that caused the Bitcoin price to crash below $5,000 on its futures exchange last week. In a statement released Wednesday, the Hong Kong-based exchange denied allegations that it had actively manipulated the futures markets to liquidate the positions of bullish traders. From the...
Cryptocurrency exchange giant OKEx is rolling back a series of Bitcoin futures transactions in response to an “irregular” sell-off that was localized to the trading platform. The Hong-Kong based exchange announced on Friday that it would reverse transactions that occurred this morning between 4:47 am and 6:30 am Hong Kong Time (HKT) when Bitcoin futures inexplicably plunged as low as $4,755 on...
Multicoin Capital, a cryptocurrency-focused hedge fund which leads 3 to 4-year long-term investments in the cryptocurrency market, has raised millions of dollars from some of the largest venture capital firms in the technology sector, including Andreessen Horowitz. Advantage of Cryptocurrencies The hedge fund aims to raise over $250 million from accredited angel investors and major VC firms, to...
According to an internal memo obtained by Bloomberg and Reuters, the People’s Bank of China (PBoC) vice governor Pan Gongsheng has encouraged the government to enforce a complete ban on cryptocurrency trading. Far-Fetched to Claim China Triggered Market Correction Last year, the Chinese government banned cryptocurrency exchanges from operating, closing down Huobi, BTCC, OKCoin, and other large...
The stellar price soared by 33 percent on Tuesday following its addition to cryptocurrency exchange OKEx. Stellar Price Leaps by 33 Percent It’s been a good month for projects founded by Jed McCaleb. The developer’s former project — ripple — returned the best performance of any cryptocurrency in 2017, and the token’s price has increased by nearly 1,000 percent since...
Bitcoin price has declined from $19,000 to $16,390 over the past 24 hours, as the bitcoin dominance index dipped dropped to 47 percent and alternative cryptocurrencies in the market surged in value. On December 20, the bitcoin price decreased by more than 10 percent, and its market valuation dropped from a weekly high of $331 billion to $283 billion. Still, on a weekly basis, the bitcoin price...
OKEx users can now trade bitcoin cash against a dozen other tokens.
Bitcoin exchange OKEx has announced it will join Bitfinex in opening a futures market to enable traders to speculate on the outcome of the SegWit2x hard fork scheduled for November. Notably, the exchange states that it will list the original chain as BTC, regardless of the fork’s outcome. The Hong Kong-based exchange made the announcement in a blog post, stating that it will open a SegWit2x...
Chinese bitcoin exchange OKEx denied allegations that it was hacked and blamed recent thefts on users who did not properly secure their accounts. As reported in regional media outlets, roughly 10 customers of OKEx and OKCoin — both owned and operated by the same company — allege that more than 600 BTC (worth close to $3 million at the time of the theft) — was stolen from their...