FDIC orders OKCoin to correct misleading insurance claims

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OKX sends bankrupt Alameda $8.3M in crypto assets

OKX sent $8.3 million in different crypto assets to Alameda Research over the past seven days, according to the Arkham Intelligence dashboard. The transfers, which happened in multiple transactions on May 29, saw the exchange send between $60,000 – $1.4 million worth of different cryptocurrencies to the bankrupt crypto firm. Source: Arkham Intelligence According to…

OKX sends bankrupt Alameda $8.3M in crypto assets

OKX sent $8.3 million in different crypto assets to Alameda Research over the past seven days, according to the Arkham Intelligence dashboard. The transfers, which happened in multiple transactions on May 29, saw the exchange send between $60,000 – $1.4 million worth of different cryptocurrencies to the bankrupt crypto firm. Source: Arkham Intelligence According to…

OKX eyes Australia expansion as it returns bankrupt FTX’s $157M

Ad Crypto exchange OKX said it would return $157 million in frozen assets from the bankrupt crypto firms FTX and Alameda Research. In a March 29 statement, OKX noted that the funds were seized in November 2022 after FTX collapsed. According to the exchange, its early investigations showed that there were assets and accounts related…

Crypto exchanges to publish ‘proof-of-reserves’ following FTX’s implosion

Several leading crypto exchanges, including Binance, Huobi, OKX, KuCoin, etc., have revealed intentions to publish their fund reserves to arrest the current contagion fears grappling the crypto market. Binance CEO Changpeng Zhao advised that crypto exchanges should do a Merkle-tree proof-of-reserves. According to him, while traditional financial institutions like banks can run on fractional reserves,…

Circle to ‘fully and solely support Ethereum PoS’

USD Coin (USDC) issuer Circle has revealed that it would fully support the Ethereum (ETH) proof-of-stake (PoS) chain post-merge. According to an Aug. 9 blog post, the stablecoin issuer was looking forward to “the future scaling opportunities (the Merge) unlocks as well as the reduced energy consumption profile of the network.” While we don’t speculate…