“We have seen its native token, OKT, commanding an all-time high of $86.54 in its first days of trading on the OKEx platform,” OKEx CEO Jay Hao said. “We're thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives, and to see OKExChain expanding its utility.”
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OKEx CEO Jay Hao is in the doghouse, but at least BTC is up 57% while withdraws were frozen (Photo: OKEx)After six weeks, OKEx to finally resume withdrawals
The exchange is promising to rebuild trust and prevent such an incident from happening ever again—but for some users, the damage is done
The crypto exchange took the drastic move “to safeguard users’ funds” on Oct. 16, it said in a Nov. 19 news release seen by Modern Consensus. Last month’s disruption was linked to the fact that one of its private key holders was co-operating in an investigation.
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The value of OKEx's utility token, OKB, fell off a cliff after the shock announcement (Photo: C Sephton)OKEx suspends crypto withdrawals as private key holder co-operates in investigation
Crypto markets were spooked by the middle-of-the-night announcement—with OKEx’s utility token OKB falling more than 15%
Stressing that its customers’ assets remain secure, the company added: “In order to act in the best interests of customers and deliver exceptional long-time customer service, we have decided to suspend digital assets/cryptocurrencies withdrawals … We assure [you] that OKEx’s other functions remain normal and stable.”
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Binance CEO CZ could seize control of Uniswap, according to a new Glassnode report. But would he? (Photo: CoinMarketCap)Binance has control of Uniswap’s ‘decentralized governance’ system: report
The Uniswap team and Binance could both take control of the DeFi token’s “decentralized governance” system, powered by the UNI token
Uniswap decided to decentralize its protocol governance to compete with the Sushiswap fork, but a new report suggests protocol control will remain centralized for quite a while. Crypto research firm Glassnode suggested in a Sept. 24 report that Uniswap’s governance decentralization will be for appearances only. In the paper, Glassnode explains that Uniswap’s UNI governance token was introduced as an answer to Sushiswap’s SUSHI governance token. The issuance of the decentralized finance (DeFi) token is presumably a measure meant to ensure that the original protocol remains competitive against its newer fork. Still, the report claims that Uniswap’s “transition toward token-based governance via the UNI token falls far short of true…