Daily Crypto NewsEDITION #54, 17 October 2020

The Day when OKEx stopped

Het #Moni Maker 👍

Today the world is celebrating the cell phone's birthday. You can hardly find a person who can imagine his day without a cell phone nowadays. And you know what? Soon the same thing will apply to cryptocurrencies. Just wait. So let's get straight to business and check out the latest crypto news!

According to OKEx, the exchange representatives, one of the multisig private key bearers, is cooperating with law enforcement agencies that have demanded to close the withdrawal of funds.

A short-term panic took place in the Chinese social media after this statement, and the BTC price fell slightly.

UPD: the users' funds are not affected in any way; the exchange team is working to resolve the situation as soon as possible.

About 200,000 BTC (1.1% of all BTCs) are stored on OKEx wallets

It's approximately $2.3 billion at the current exchange rate.

Before the suspension of cryptocurrencies withdrawal from OKEx, there was a massive outflow of BTC from the exchange.

According to @glassnode, a total of 10,000 BTCs (~113 million dollars) have been withdrawn in the last 48 hours in two large batches, which is the largest withdrawal in the last six months.

So what?

Also, the founder, Star Xu, was arrested. It's not his first time, but the situation is interesting: McAfee, OKEx, and Bitmex CEO were caught by accident or...?

It's not clear why the OKEx withdrawing began before the news about the arrest. We won't go into conspiracy theories, but the deal looks suspicious.

A cool short film about how the dude inherited 55,000 BTC and was close to the best vacation of his life, but something went wrong.

P.S.: Here is the address of the wallet from the video.

So what?

Crypto needs art! More books, movies, songs, and so on! Such things create a community + attract people who are far from "your Beethoven".

DeXe Network has already announced that after the launch of the platform, DeXe token owners will be able to receive Rewards for tokens holding.

Funds received as commissions will be partly paid to traders whose trades were copied, partly burned, partly sent to the DeXe insurance pool, and part of the tokens will be distributed among the DeXe token hodlers as Farming Rewards.

Ordinary rewards are accrued to the holders on a permanent basis, but there is a limited opportunity to get higher Farming rewards.

It's available only to members of the DeXe.Network Sale (which is about to end).

If your total token balance purchased from the vault is greater than the average, you will be receiving increased rewards longer.

If you hold tokens for 30 days and your balance has increased to 1%, you get x3 - 90 days payout.

Triple Farming rewards: Increase to 25% - x4 coefficient, 50% - x6, 75% - x9, 75% - x13.

Correlation between Bitcoin price and Google searches. 👆

So what?

Well, ladies and gentlemen, we wish you a wonderful weekend 😜 See you Monday!