Cryptocurrency exchange OKEx has donated $4.5 million in Bitcoin (BTC) to its perpetual swap market insurance fund as a show of support for the Warren Buffett Power Lunch. More protection for traders In a press release shared with Cointelegraph on July 23, the Malta-based crypto exchange revealed its contribution to the perpetual swap market insurance, whose amount is equivalent to what Tron’s Justin Sun paid to have lunch with Warren Buffett. Andy Cheung, head of operations of OKEx, commented on the contribution saying that “the Power Lunch is a significant initiative to advocate the value of Bitcoin, blockchain, and digital …

Some things never change, like the Megalithic Temples built in Malta over 5,000 years ago. These days, however, that may be the only thing that remains unchanged in Malta. With a population of just under half a million and being mostly famous as a destination for European teenagers to study English during their summer vacation, Malta has recently become a star on the crypto map. Having already had a positive experience hosting online gambling companies, which makes up a very significant portion (13%) of Malta’s GDP, the island is now turning its head toward the world of crypto in an …

A crypto company is launching an aggregated exchange that enables users to trade across multiple platforms while using a single account. TokenClub says its unified system is designed to tackle four problems currently facing the industry: convenience of trading, quality, costs and risks. The new service means access to platforms such as Bittrex, Binance and OKEx is streamlined and delivered in one place — with commission fees that are much lower than those seen on rival exchanges, the team says. A complementary crypto wallet has also been developed, which supports a range of digital currencies including Bitcoin, Ether, Bitcoin Cash, …

One of the world’s biggest crypto exchanges by trading volume believes digital currencies can provide financial freedom to consumers in countries where instability and inflation are making fiat payments impractical. In the world of digital technology dominance, traditional global financial systems are facing hard times to transform in order to interact with the overwhelming demands around the globe, especially to developing countries. Issues such as a lack of access to stable banking and the high cost of currency exchange and remittances for migrant workers sending funds back home all contribute to perpetuating existing inequalities. However, cryptocurrency and blockchain technology could …

This article has been updated to clarify that OKLink, OKEx, and Prime Trust are separate companies. Global settlement firm OKLink will launch its stablecoin today, June 3, an OK Group representative told Cointelegraph. Cryptocurrency exchange OKEx will operate as the exchange platform for OKLink — in conjunction with United States-based custodian Prime Trust — to launch the stablecoin, dubbed USDK. According to an OKEx spokesperson, OKLink will serve as the technology service provider for developing the USDK smart contract, with Prime Trust acting to provide Anti-Money Laundering and Know Your Customer compliance, as well as other transaction technology services. On …

While it’s possible to buy top cryptocurrencies like bitcoin (BTC) and ether (ETH) in the over-the-counter (OTC) market, most people will need an exchange in order to buy other altcoins. Exchanges are simply an important component of the system that makes the crypto market tick. Regulators around the world have identified this, which is why regulatory moves have primarily targeted exchanges. Regulators want to be sure that exchanges employ the best security practices as well as measures — Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT), for instance — that discourage illicit transactions and …

Crypto market cap tracker CoinMarketCap (CMC) will remove exchanges from its calculations if they fail to provide mandatory data by June, the firm wrote in its sixth anniversary blog post on May 1. CoinMarketCap, a major source of data about all traded digital currencies, has made a series of announcements to celebrate its sixth birthday today. As such, CMC has announced a brand new alliance called the Data Accountability & Transparency Alliance (DATA) in order to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” A broad number of exchanges have already joined the new alliance, including …

A crypto exchange has unveiled its new market maker program, with incentives for participants in the form of lower trading fees and reduced transaction costs. OKEx — which, according to CoinMarketCap, is the world’s biggest exchange by trading volume at the time of writing — says the program is open to users who have completed the necessary Know Your Customer (KYC) verification procedures and have total assets exceeding 20 bitcoin or the equivalent in their account. The company says these requirements are “less strict” than those offered by its rivals. Applications for its market maker program are only being accepted …

Major cryptocurrency exchange OKEx announced that it decided not to delist bitcoin satoshi vision (BSV) in a series of tweets published on April 16. OKEx is currently ranked first on CoinMarketCap of exchanges by adjusted trading volume, with $1.3 billion in 24 hour volume. Per the announcement, the exchange verified that BSV currently doesn’t meet the OKEx delisting and hiding criteria after reviewing its technology development, liquidity and compliance. The last tweet further explains the stated reason behind the decision: “As a neutral platform, OKEx respects the efforts of all dedicated teams in advancing the technology of Bitcoin and has …

Bitcoin’s (BTC) price surge last week has led Chinese traders not only return to trading but pay a premium for doing so, social media-based news account cnLedger reported on April 7. Reproducing price spreads from cryptocurrency exchanges Huobi and OKEx, cnLedger revealed an increasingly common practice among Chinese traders who wish to acquire Bitcoin. Since China formally banned cryptocurrency trading in 2017, investors have had few options. Purchasing stablecoins such as Tether (USDT) via over-the-counter (OTC) services and converting them to other cryptocurrencies has become the principal method, cnLedger noted. Now, in the wake of a bullish week for Bitcoin …

Star Xu — founder of OK Group — has announced OK Group’s partnership with blockchain-focused trust company Prime Trust, prospectively allowing the firm to launch its own compliant stablecoin. The news was revealed in a tweet from Star Xu on March 28, retweeting an earlier March 27 tweet from Prime Trust announcing the partnership. Star Xu has written that the new partnership will see OK Group undertaking “an in-depth collaboration and offer[ing] diverse, secure and regulatory compliant services with Prime Trust.” Prime Trust’s earlier tweet on March 27 had explicitly noted OK Group’s reported plans to launch a compliant stablecoin, …

Cryptocurrency exchange OKEx is developing its own blockchain and decentralized exchange, according to a blog post published on March 22. Per the post, OKEx has been developing its own blockchain dubbed “OKChain,” which is now purportedly in the final development stage. The company expects to put out a testnet in June of this year. OKChain will also serve as the base for OKEx’s decentralized exchange. Apart from that, the post states that OKEx’s native utility-token OKB will be put onto the ERC-20 blockchain by the end of April, and will be migrated to the OKChain mainnet once the OKChain becomes …