The Tron Foundation has published an update on a decision it took yesterday to enable Tron (TRX) holders to withdraw their tokens from the OKEx cryptocurrency exchange. According to the foundation: “At present, TRON has helped 16 OKEx users withdraw their TRX, and the TRON Foundation has transferred a total of 9419739.963519 TRX, worth 247268.174 USD according to the CMC price of TRX at the time of press, to the wallet addresses offered by these users at a 1:1 ratio.” OKEx froze all withdrawals on Oct. 16 amid ongoing investigations by law enforcement. Local reporters have alleged that the investigations …

Major exchange OKEx suspended crypto withdrawals on Oct. 16. With little information coming from the firm or its CEO Jay Hao in the time since, users have begun demanding answers via Twitter. In an Oct. 20 tweet from Hao, the CEO stated that there had been “no on-chain out-flow” since the exchange announced it had “temporarily suspended” withdrawals on Friday. “Your assets are safe,” said Hao. “We'll do our best to resume withdrawals ASAP.” The exchange reported on Oct. 16 that it had suspended cryptocurrency withdrawals because one of its private key holders was “cooperating with a public security bureau” …

Large Bitcoin (BTC) transactions from Huobi cryptocurrency exchange are moving to OKEx despite the latter having temporarily suspended crypto withdrawals. According to data from crypto tracking service Whale Alert, a total of 1,995 BTC ($22.5 million) was sent from Huobi to OKEx shortly after OKEx officially announced it was suspending withdrawals on Oct. 16. The funds were transferred in two separate BTC transactions worth 998 BTC ($11.3 million) and 997 BTC ($11.3 million) at 3:51 a.m. EST and 06:22 a.m. EST, respectively. The transfers raise some questions as 1,995 BTC is now locked on the platform due to the platform …

The founder of major global cryptocurrency exchange OKEx has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals. OKEx founder Mingxing Xu, also known as Star Xu, has reportedly been questioned by the police, Chinese news agency Caixin reported today. According to the report, the executive was investigated “at least a week ago” and has also been absent from work for some time. When approached for comment on Xu’s participation in a police inquiry, OKEx told Cointelegraph that the exchange is no longer affiliated with OK Group, where Xu is a senior executive, and therefore was not in …

Major crypto asset exchange OKEx has suspended cryptocurrency withdrawals, announcing that one of the holders of its private keys is “currently cooperating with a public security bureau” concerning ongoing “investigations.” The exchange noted that it has been “out of touch” with the key-holder, preventing the "associated authorization" from being completed. OKEx plans to resume digital asset withdrawals “immediately” once the key-holder “is able to authorize the transaction.” Citing its terms of service, OKEx said it had decided to suspend withdrawals but added that the security of its customers’ assets “will not be affected” by the events. Bitcoin (BTC) has fallen …

At the start of October, the crypto market was faced with extremely tumultuous financial conditions, thanks in large part to the recent filings against BitMEX, which saw the company’s top brass being indicted by the United States Commodity Futures Trading Commission on several charges. Not only that, but just a few days before the BitMEX scandal came to light, cryptocurrency exchange KuCoin was hacked to the tune of over $275 million on Sept. 26. In the midst of all this, the crypto derivatives market also witnessed a major development in the form of Binance overtaking Huobi and OKEx to become …

Lately, in the crypto scene, everything related to decentralized finance is being considered a gold mine. While DeFi has brought solid projects to the industry, there’s also a hot new craze, and it’s related to food. Everything from yams to burgers is now being converted to a coin and sold like a tasty meal at a food fair, and investors can’t seem to get enough of these food-themed coins. However, there are growing concerns over the sustainability of these DeFi projects. At the beginning of the month, Hotdog, a food-themed project, shed 99% of its value within minutes. The occurrence …

OKEx CEO Jay Hao called out Binance and its CEO Changpeng Zhao for their recent support of certain DeFi projects. He also claimed that Binance Smart Chain, or BSC, is highly centralized, noting that it is wholly controlled by a single team. According to Hao, BakerySwap, built on BSC, collapsed after only 12 hours, leading to protests in China and elsewhere: Source: Twitter. Today’s thread follows up on a series of tweets from September 15, in which the OKEx CEO condemned Zhao and his fellow Binance co-founder, Yi He, for their platform's hasty SUSHI listing. Hao criticized Binance’s “irresponsible behavior …

Crypto exchange OKEx added Uniswap's new UNI token to the array of assets offered on its platform, in addition to trading products around the asset. "Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products for this hot DeFi token, including margin, swap trading, coin-margined perpetual swap and Savings, making OKEx the first exchange to offer UNI derivatives," OKEx detailed in a statement Thursday. Uniswap, a decentralized exchange, launched its own Ethereum-based token, UNI, on Wednesday, dispersing the asset to users of the decentralized …

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On Sept. 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact, seeing sustained …

The decentralized finance space has grown exponentially over the last few months, to the point where more than $9 billion worth of crypto assets were locked in its protocols before crypto prices started dropping. The space had a little over $500 million locked in back in September 2019. This exponential growth in the last few months appears to be mainly related to a yield farming trend that started when lending protocol Compound began distributing its COMP governance token to users who interacted with the protocol. Put simply, yield farming — or liquidity mining — allows DeFi users to generate rewards …

Two exchanges will offer both decentralized and centralized financial options. Both Bitrue and OKEx separately announced plans to provide hybrid services that cater both to the DeFi market and more mainstream centralized finance products. OKEx CEO Jay Hao tweeted on August 30 that the exchange launched its hybrid lending aggregator. The DeFi and CeFi aggregator integrates Compound (COMP). Hao said OKEx is “here to redefine crypto lending experience.” The OKEx DeFi Lending Marketplace gathers major DeFi lending products and allows users to check and compare all DeFi and CeFi lending rates. The exchange will also come out with a One-Stop …