A cloud-based crypto trading software provider is now compatible with yet another major exchange — expanding its automated offering to thousands more users as a result. TradeSanta has unveiled support for OKEx, one of the world’s biggest platforms in terms of trading volume. The company says the exchange is renowned for its low fees, wide range of trading pairs, and how it enables newcomers to the crypto space to exchange their fiat currencies for digital assets with ease. OKEx is one of several major exchanges now supported by TradeSanta, which has the stated goal of ensuring that keeping track of …

A recent report highlights that India’s growing demand for cryptocurrencies is driven by the need for lower remittance fees and a more stable currency to store value. The cryptocurrency spot and derivative exchange OKEx in collaboration with Coinpaprika studied the Indian cryptocurrency markets and estimated that the global share of cryptocurrency transactions in India will increase significantly in the next two years. Moving to a less expensive payment system There are over 17 million Indians working beyond the borders who sent more than $80 billion back home in 2018. They paid as much as $5.67 billion as transaction fees to …

For an industry that is supposed to be based upon decentralization, it appears to be getting crowded at the top, with a number of companies transforming into unspoken oligarchs, each wielding huge influence — or at least that’s what some critics argue. One of the most remarkable crypto companies operating today is Binance. In only three short years, Binance has enjoyed a meteoric rise to the top. Criticism of Binance, philosophical or otherwise, can’t fail to take into account the impressive stream of innovation the firm seems to channel. Headed by Changpeng Zhao, the Twitter-happy CEO better known as CZ, …

In a recent tweet, Binance (BNB) CEO Changpeng Zhao (CZ) may have inadvertently admitted his involvement in the management of the recently acquired CoinMarketCap (CMC). Following in Elon Musk’s footsteps? Zhao’s tweet from May 14 seemingly admits his involvement in managing CMC: Source: Twitter If he is not involved in the managerial decisions of CMC, including the configuration of various metrics, then it raises the question — why is the CEO of Binance making public statements that suggest otherwise? At the very least, this resembles public pressure on CMC’s management. The situation is reminiscent of a Twitter-enabled gaffe by Elon …

OkEx chief strategy officer, Alysa Xu, called out crypto data site CoinMarketCap, or CMC, for its recent exchange ranking rationale, proclaiming the platform dead. "Fairness and justice are the basis of all rankings," Xu said in a May 15 post on Chinese microblogging site Weibo. "CMC is dead, and we mourn together tonight." CoinMarketCap recently changed its ranking metrics Binance recently rose to the top of CMC's crypto exchange rankings after the data site changed the rationale by which it composed its list. CMC now shows exchanges ranked in order of web traffic, instead of liquidity or volume. Binance acquired …

Crypto funds associated with Upbit’s $50 million hack in November 2019 have continued to move. Soon after hitting the world’s biggest crypto exchange, Binance, large sums of the stolen funds continued to be transferred to a little-known crypto exchange as well as major exchanges like OKEx. On May 14, Whale Alert — a service dedicated to tracking major crypto transactions — reported on a series of new transactions involving funds from Upbit’s 2019 hack. According to Whale Alert, a large portion of the stolen Ether (ETH) has also hit a number of unknown wallets. Addresses of little-known exchange Byex.com receive …

After a sharp drop in Bitcoin (BTC)’s value on May 10 — just ahead of today’s halving of block rewards for miners on the network — several exchanges scrambled to inject liquidity into their BTC insurance funds. Earlier today, Binance revealed it had used “over 13,000,000” Tether (USDT) yesterday to protect traders from the risk of auto-deleveraging (ADLs) on its platform. “We will inject an additional 30,000,000 $USDT into the insurance fund, on top of the 7,500,000 USDT from April 30th,” the exchange pledged. The exchange’s insurance fund balance for BTC/USDT contracts plummeted overnight from 21,005,925 USDT on May 10 …

Pre-halving speculation has driven historic volumes of crypto trade, with April 30 producing the second-strongest single day for volume on record according to a report published by market data aggregator, CryptoCompare. Notional volume for BTC options on Chicago Mercantile Exchange, or CME, also tagged a new record in recent days, with 202 contracts changing hands on May 5. April 30 posts historic volume $66.2 billion worth of crypto assets changed hands on April 30 as Bitcoin (BTC) rallied above $9,000 — comprising the second-largest daily volume behind the $75.9 billion in crypto assets traded during the historic March 13 crash. …

OKEx Pool, the staking arm of the OKEx conglomerate, announced that it has joined an Ethereum 2.0 testnet as a Proof-of-Stake validator. As revealed by its April 29 blog entry, OKEx is now validating blocks in the Ethereum 2.0 Topaz testnet, launched by Prysmatic Labs. Alysa Xu, the chief strategy officer for OKEx, said that the exchange believes in the potential of Ethereum and its role in the industry. In addition, she revealed that the exchange is planning to promote Ethereum development after having “already established the collaboration with Prysmatic Labs.” Prysmatic Labs is one of several companies that are …

Data provided exclusively to Cointelegraph by blockchain and crypto analytics firm Flipside Crypto shows that Binance and OKEx paid large fees for Ether (ETH) withdrawals when the Bitcoin price crashed to $3,600 on March 13, a day dubbed as “Black Thursday” among investors in the cryptocurrency market. At the time, the Bitcoin (BTC) price dropped by around 50 percent in a single day, causing the price of Ether to plunge to as low as $85 across major exchanges. As an unprecedented cascade of liquidations pushed the entire market downward in a short period of time, requests for withdrawals on exchanges …

Jay Hao, the CEO of the digital asset exchange OKEx, took part in Cointelegraph China HUB, an online interview column, hosted by Vadim Krekotin, co-founder and CEO of Cointelegraph China and Kristina Lucrezia Cornèr, managing editor of Cointelegraph. Hao has recently stated in an AMA that blockchain will eliminate transaction barriers, improve efficiency and ultimately impact the development of the global economy. But what does he think about the world of blockchain now? Vadim Krekotin: As you said, the cryptocurrency industry itself brims with uncertainties, and it is OKEx's innate mission to be prepared to meet new challenges on all …

Despite hopes that a peak of the coronavirus cases is near, the pandemic continues to impact almost every aspect of daily life, becoming a rolling news ticker in itself. When such a disaster strikes, it can be easy to go through each day devouring the latest news as it occurs and digesting each piece as a story by itself without forming an overall picture. This pandemic is a seismic event with far-reaching impacts across different sectors, and crypto is no exception. In fact, because cryptocurrency markets move at breakneck speeds, the fact that coronavirus has been making its presence felt …