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Crypto exchange OKX has started an investigation into the abrupt 50% decline in the value of its native token OKB. Cryptocurrency exchange OKX has launched an investigation following a rapid 50% decline in the value of its native token, OKB. The unexpected plunge saw OKB’s value drop to $25.1, prompting OKX CEO Star Xu to address the matter. While the CEO did not delve into specific details, Xu said the OKX team is actively investigating the recent volatility in OKB prices, promising to provide a report on the matter at a later time. Our team is investigating the recent okb price volatility. We will report to the community later. pic.twitter.com/UI9uPgQfA5 — Star (@star_okx) January 23, 2024 You might also like: OKX to delist privacy tokens in January 2024 While it’s unclear what was the reason behind the quick price drop, CryptoQuant CEO Ki Young Ju noted in an X post that “no notable outflows” from OKX’s major asset reserves have...

The move came as crypto exchange OKX listed BONE after conducting a special voting event to find favorite meme coins followed by the crypto community. BONE and AIDOGE received more voting among the five meme coins selected for voting. advertisement Huobi Listed Shiba Inu’s Bone ShibaSwap (BONE) Token In an official announcement on April 25, Huobi Global revealed that it is listing Bone ShibaSwap (BONE), which is the Shibarium Layer-2 blockchain’s only gas fees token. The exchange will list BONE on April 25, with deposits opening from 06:30 UTC onwards. The BONE/USDT spot trading pair will open for trading as the deposit volume meets the market demand. Furthermore, users can withdraw their BONE tokens from 08:00 UTC on April 26. The exchange also took to Twitter to announce the listing of the BONE token and trading going live on the same day itself. Huobi has faced low trading volume despite several efforts by Justin Sun. The exchange is even listi...

Crypto assets continue to thrive despite being in the midst of macro-economic instability. Just a few hours back, Bitcoin went on to claim the $29k mark, for the first time since June 2022. Alongside, companies from the industry have also been expanding their reigns to cater to the growing demand for crypto assets. Crypto exchange OKX recently announced that it will be opening an office in Australia “in the coming months.” Haider Rafique, the Chief Marketing Officer at OKX asserted that the exchange intends to become “the leading crypto platform in the world.” Elaborating on how the latest initiative would help foster the company’s ambition, he said, “We see Australia as an indispensable part of this strategy and a key growth market. With such a strong uptake of crypto in Australia already, we’re committed to the local market and aim to build a strong local office.” OKX has a host of prominent ambassadors like F1 driver Daniel Ricciardo and Olympic snowboarder Scotty Jam...

The failure of several crypto currency-related businesses prompted a newfound fear among users. To combat this, many platforms began sharing their proof-of-reserves reports over the last couple of months. Prominent exchange, OKX went on to publish its third monthly PoR report earlier today. The firm highlighted how it currently holds billions in Bitcoin, Ethereum, and stablecoin Tether [ USDT ]. While this is OKX’s third report, it is the first to include a “more detailed asset balance dashboard.” According to this, the exchange is over-collateralized with $7.5 billion in reserves. The reserve ratio does not include OKX’s native token OKB. With 1:1 reserves, the reserve ratios are 105% for Bitcoin, 105% for Ether, and 101% for USDT . Source While the reserve ratio for Bitcoin and Ethereum are the same, that of USDT is quite lower. OKX’s user asset holdings for Bitcoin are at 117,682 while its wallet assets are at 123,914. For Ethereum, on the o...

The FTX attack earlier this month was a devastating turn in an already tragic tale. Now, new information gathered reveals that the FTX attacker sent $4.1 million in Bitcoin to OKX through ChipMixer. The now bankrupt platform saw a hacking that stole millions, with reports of the laundered funds being transferred into Bitcoin and Ethereum. New research from Twitter user ZachXBT has now uncovered that those digital assets have been transferred to another cryptocurrency exchange 1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 FTX Hacked Funds Sent to OKX The month of November has spelled tragedy for now-disgraced exchange firm, FTX. Shortly after a plumm...