OKX Financial News

A provocative new advertising campaign from cryptocurrency exchange OKX is challenging messages from traditional finance and Web3 competitors by calling for a rewrite of current financial and digital systems.

It comes after Coinbase launched a campaign on March 9 called “It’s time to update the system.”

On May 9, crypto exchange OKX sent approximately $60 million worth of digital assets to wallets connected to failed hedge fund Alameda Research, according to data from crypto analytics platform Arkham Intelligence.

According to a post on Apr. 24, cryptocurrency exchange OKX does not support the buying and selling of "shell tokens" listed on the exchange.

Cryptocurrency exchange and Web3 technology developer OKX has been active in the space over the last month, with the latest announcement on its first immersive metaverse fan experience as a part of its “OKX Collective."

After the latest update of the infamous artificial intelligence (AI) chatbot ChatGPT-4, the technology has been a buzzword inside and outside the crypto industry. While opinions on the technology may be mixed, companies continue to integrate AI to enhance their user experience.

The global cryptocurrency exchange OKX released its fifth proof-of-reserves (PoR) report, a practice it began in November 2022 to boost transparency in the industry. 

According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused” due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars. 

According to a press release published by cryptocurrency exchange OKX on Feb. 28, the firm said that it seized 2,014,381 Tether (USDT) from five accounts suspected of partaking in "malicious market manipulation," of the Celestial (CELT) token. As told by OKX, on Feb. 26, Celestial developers announced the creation of a new blockchain game. Shortly afterwards, the Celestial developers allegedly launched a social media campaign promoting the new game using OKX's branding, which the firm says was unauthorized. As a partial result of the activities, the CELT token nearly doubled in value within two days' time before falling over 50% in the past 24 hours to $0.002129 at the time of publication. 

Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.”

Crypto exchange OKX has released its second proof of reserves (PoR) on its website, only a month after releasing its first one.

OKX has released an update regarding its recent outage that existed for around seven hours, saying that it was due to hardware issues with its cloud service provider.

Shiba Inu is up 1.78%, trading at $0.00001132 following the official announcement of the "download day" of the Shiba Eternity game, but it could be new rival Tamadoge (TAMA) that catches all the action this weekend with its price pumping 90% to $0.043 at the time of writing. 

cryptos are traded in the red. Bitcoin started the week trading at the $19,000 range but fell to the $18,000 level in the mid-week. Bitcoin (BTC) was more than 71 per cent down from it's all-time high by touching its lowest since July 12 as investors moved away from the riskier assets. One of the reasons for the downward trend could be because of the long US Labor Day holiday weekend. But, the market started showing some signs of recovery on Thursday and scaled up aggressively on Friday. BTC rose by nearly 10 per cent and regained its $21,000 position back. This means that buyers are now ready for the midterm rise. If bulls can hold BTC above the $20,575, we could also see it trade above the $22,400 level soon. The second largest cryptocurrency, Ethereum (ETH), continued to trade sideways, extending its previous weekend’s steadiness into the early week.

OKX, a crypto trading platform, has announced a partnership with Jack Ma-owned South China Morning Post (SCMP), a 118-year-old Hong-Kong based English daily, to create NFTs. OKX, which claims to be the world’s second-largest crypto exchange by spot trading volume, will enable the publication to create NFTs of their historical archives consisting of video clips, stories and coverage of historical events. Jay Hao, OKX CEO, said, «There is significant potential in the crypto and metaverse space and OKX is striving to create a more welcoming environment for all. Our collaboration with SCMP is just the beginning of this ambitious program.»