All articles tagged with #okx
OKX, a major crypto exchange, faces user complaints over account freezes and strict compliance measures, with its CEO acknowledging high false-positive rates in its risk control system. The company is under increased regulatory scrutiny, especially in the U.S., and is working to improve user experience while maintaining compliance.
Bitcoin surged 11.5% to near $57,000, led by Bitfinex traders and boosted by spot buying on Binance, with Pantera founder Dan Morehead attributing the rally to institutional capital inflows and the impending BTC reward halving. OKX launched a platform in Turkey to cater to the growing crypto adoption and transaction volume in the country, while Uniswap's UNI token surged 60% after proposing to distribute protocol fees to token stakers, leading to a whale address liquidating 90,000 tokens.
Bitcoin has experienced a 12% drop in price following the debut of spot exchange-traded funds (ETF) in the U.S., with selling pressure concentrated on Binance, OKX, and Upbit according to data from Kaiko. The sell-off appears to be driven by traders taking profits on long positions initiated in anticipation of the ETFs' launch. Binance's spot market saw a significant capital outflow, while Coinbase and Bitstamp experienced net capital inflows amid the price weakness. Analysts suggest that prices could slide further before the pullback runs out of steam, as the initial performance of the ETFs has been weaker than projected.
Coinbase and OKX have partnered with crypto startup Archax to comply with new financial promotion rules in the UK, while Binance has partnered with peer-to-peer lending firm Rebuilding Society. These partnerships allow the exchanges to continue serving UK customers from overseas. The Financial Conduct Authority (FCA) has placed exchanges HTX and KuCoin on a warning list of unauthorized firms. The FCA's new regulations for crypto asset financial promotions came into effect on October 8, requiring compliance from unregistered crypto firms to avoid criminal offenses.