“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.”
Crypto exchange OKEx launches real-time settlements
Recovering from a six-week lockdown, the derivatives crypto exchange now allows its users to withdraw their funds at any time
The new feature “will provide a better trading experience for users, improve the capital efficiency of their funds and enable greater cross-exchange arbitrage opportunities," said OKEx head of financial markets, Lennix Lai. “This is hugely beneficial to traders carrying out cross-exchange arbitrage.”
$47M in BTC leaves OKEx in a single block as withdrawals resume
The troubled exchange saw 2,822 BTC leave its reserves in transactions included in a single block on the Bitcoin blockchain when a nearly six-week freeze lifted
Presumably, traders were afraid that the funds were not safe with the exchange or just decided to bring their money elsewhere after being unable to access them for nearly six weeks. This movement may remind some of the recent bitcoin exodus from the BitMEX exchange after four top executives including CEO Arthur Hayes were indicted by the U.S. Justice Department.
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.