Malta-based cryptocurrency exchange OKEx has launched a new derivative product called Perpetual Swap trading, according to a press release shared with Cointelegraph Dec. 3. Perpetual Swap is a peer-to-peer, virtual derivative developed by OKex, that enables users to speculate the direction of the price of digital assets. Its mechanism is reportedly very similar to a futures contract, but with no expiry and daily settlement. Each swap contract has a notional value of $100 Bitcoin (BTC) equivalent. Per the release, the new derivative product allows users to perform perpetual swaps, futures contract, and spot trade with margin and leverage simultaneously. OKex …

Major Hong Kong-based cryptocurrency exchange OKEx announced it was delisting a second swathe of trading pairs due to “weak liquidity” in a blog post Nov. 27. OKEx, which announced its intention to begin delisting certain pairs and tokens in October and removed the first batch Oct. 31, will now remove a further 49 trading pairs from its order book. This, the announcement says, is in order to “create a robust trading environment and offer the best trading experience” for traders. Some assets will lose certain trading pairs, while withdrawals of 26 tokens are set to disappear altogether starting at 5 …

Last week, OKEx exchange faced negative publicity and accusations of marketing manipulation after adjusting Bitcoin Cash (BCH) futures settlements during the notorious hard fork. On November 20, the exchange responded to those allegations, essentially defending its decision and promising to provide evidence if the case goes to court. Curiously, it is at least the third time this year that OKEx has shown strange price volatility on their exchange. Brief introduction to OKEx, major crypto futures trading player OKEx was founded in 2017 as an international arm of the no longer operating Chinese exchange OKCoin. According to data from CoinMarketCap, it …

The world’s second-largest cryptocurrency exchange OKEx hit back at accusations it “manipulated markets” by adjusting Bitcoin Cash (BCH) futures settlements in a fresh statement Nov. 20 sent to Cointelegraph. The exchange, which opted to deliver BCH futures early due to the coin’s contentious hard fork Nov. 15, subsequently saw a barrage of negative publicity over the decision, pundits complaining it had overstepped its remit in freely deciding when and how futures contracts would be settled. In particular, a dedicated Medium post by an entity calling itself AMBER AI accused OKEx of “outright market manipulation and one of the more serious …

OKCoin, the parent company for world’s largest cryptocurrency exchange OKEx, has launched fiat-crypto trading services in Argentina, the company revealed in a tweet Thursday, Nov. 15. According to the company’s blog post about the move, customers can already deposit Argentine pesos (ARS) in exchange for major cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), Cardano (ADA), Stellar (XLM), Zcash (ZEC), and 0x (ZRX) “and more.” OKCoin has also revealed its plans to extend its services all over Latin America, adding other local fiats to the list “in the coming months.” The company …

The world’s current biggest crypto exchange OKEx has announced early delivery of Bitcoin Cash (BCH) futures contracts immediately after trading stop time today, Nov. 14, according a press release shared with Cointelegraph. As per the announcement, all Bitcoin Cash futures contracts have been set to stop trading at 9:05AM CET and delivered subsequently at 10:00AM CET due to the upcoming hard fork of Bitcoin Cash, Bitcoin ABC, scheduled for tomorrow, Nov. 15. According to Twitter, OKEx has released a notice on early delivery of Bitcoin Cash futures eight hours ago to press time, which means that the announcement has been …

Prominent cybersecurity firm Group-IB has graded the security of top crypto exchanges, U.S.-based tech news media the Next Web reported Tuesday, Nov. 6. According to research conducted by the Moscow-based firm in partnership with crypto asset insurance platform CryptoIns, the Kraken platform is the safest crypto exchange. In contrast, OKEx — the now-second crypto exchange by daily trade volume — as well as Huobi Pro and CoinCheck are the riskiest crypto trading spots, the report says. Per the Next Web, Group-IB made its determinations with a newly developed assessment system that calculates insurance premiums to cover cryptocurrencies held by major …

Major Hong Kong-based cryptocurrency exchange OKEx will delist over 50 trading pairs with weak performance, according to an announcement published Oct. 25. As per the announcement, at 6:00 am Oct. 31, 2018 CET, the exchange will halt the trading of a swathe of pairs that they cite as having weak liquidity and trading volume. The exchange warned users that they should cancel their orders of the affected pairs from the platform. OKEx also made a point of noting that it will delist only the indicated trading pairs, but not the tokens themselves. Andy Cheung, Head of Operations at OKEx, called …

Another major crypto exchange Huobi has announced the listing of four stablecoins at once, according to an official statement Tuesday, October 16. Starting Friday, Oct. 19, the fifth largest crypto exchange by trading volume will start accepting deposits of four USD-backed stablecoins – Paxos Standard (PAX), TrueUSD (TUSD), USDCoin (USDC), and Gemini Dollar (GUSD). The Huobi Global team noted that the stablecoins are already available on Huobi Wallet, while the launch time and other details are set to be announced at a later time. Huobi also stated that they will release detailed plans for over-the-counter (OTC) trading of the stablecoins …

Cryptocurrency exchange OKEx founder Star Xu has today, September 12, hit back at allegations of fraud after conflicting reports over why Chinese law enforcement summoned him to a police station for 24 hours Monday. According to multiple local media sources, Xu, also the CEO of OKCoin, had faced problems at his hotel from a group of “investors” allegedly linked to WFEE Coin, a blockchain WiFi sharing project they said Xu held shares in. Alleged illicit activity on the part of WFEE had led those affected to seek justice, whereupon they alerted police in Shanghai who brought in Xu to assist …

Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11. According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and will be released within 24 hours if insufficient evidence is found of his participation in suspected fraud. Tech news sources ZeroHedge reports that investors in WFEE Coin — a company where Xu is a shareholder — complained to the police about the company’s allegedly fraudulent …

This article previously conflated Terra and partner company TMON. It has been updated for clarity. A new stablecoin project out of South Korea, dubbed Terra, revealed it has closed a $32 million funding round led by a string of major crypto exchanges, in a press release Wednesday, August 29. Terra was co-founded by Daniel Shin, the creator of South Korean e-commerce marketplace Ticket Monster (TMON), which boasts a considerable $4 billion in total sales. According to the press release, upon launch the stablecoin will be integrated into the payment systems of the so-called Terra Alliance, a group of global eCommerce …