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FDIC Investigates Potential Violations of Federal Deposit Insurance Act by OKCoin USA Inc.
The Federal Deposit Insurance Corporation (FDIC) has initiated an investigation into OKCoin USA Inc. (OKCoin) and its senior executives for alleged false and misleading statements regarding the company's insured status.
Okcoin Halts U.S. Dollar Deposits After Signature Bank Shutdown
Okcoin has paused its U.S. dollar wire and ACH deposits due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars. The suspension extends to over-the-counter services, credit card transactions, and trading USD-crypto trading pairs. However, all corporate and customer funds are safe, and USD withdrawal is not affected. The processing pace will be subject to bank operation. All crypto deposit and withdrawal functions remain intact, including those of U.S. dollar-pegged stablecoins.
HK-based Spending App Offers Crypto Rebate for Customers
A local spending startup, Bloom pairs with cryptocurrency exchange Okcoin to offer token rebates and bring a gamified retail experience to their clients.
Crypto Exchange Okcoin Launches a Free Trading NFT Marketplace
To tap into the NFT craze, crypto exchange Okcoin has established a marketplace featuring no transaction fees.
Brazilian Crypto Exchange Foxbit Raises $21M in Series A funding, Led by OK Group
Brazilan Cryptocurrency exchange Foxbit announced that it has raised $21 million in a Series A round led by OK Group, owner of cryptocurrency exchange Okcoin.
Bitcoin is Still on Track of Hitting $100K in the Long Term, OKCoin CEO says
Speaking on an interview Wednesday, Hong Fang, the CEO of crypto exchange OKCoin, opined that Bitcoin reaching $100,000 would not be a problem in the long term.