OKB Token Jumps 12% on Bitcoin Exchange OKEx Reopening

OKEx has released an official statement, stating that the exchange will resume withdrawals before Nov. 27, 2020 (HKT).

“The problem has been resolved and the relevant personnel have returned to work,” the company said.

The person in question is said to be Xu Mingxing, the founder of OKEx, who was reportedly taken away in police custody. Withdrawals could not be authorized as he held the exchange’s private key.

OKEx had suspended withdrawals back on Oct.16. This drove down Bitcoin and Tether’s prices on the exchange by ~30% compared to the rest of the market.

OKB, the native token of the exchange, also saw a significant price boost as the token increased by roughly 12% in a span of 24 hours. It is currently trading at $5.69.

The token had dropped in price when OKEx first suspended trading, crashing from nearly $6 to almost $4 in a span of just three weeks.


OKEx has insisted that it has 100% reserve since its establishment and that there will be no bank runs. They plan to conduct a large-scale feedback event to express their apologies and garner feedback from old and new customers.

The team has stated that the specifics will be announced in a few days.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: https://cryptobriefing.com/okb-token-jumps-12-bitcoin-exchange-okex-reopening/


Rating: 0
xc false
Slider: 0

Leave a Reply

Your email address will not be published. Required fields are marked *