Chinese journalist Colin Wu reported that OKEx founder Star Xu “has gained some freedom.” The OKB token price rose from around $5 to $5.76.
Exclusive：Star Xu, the head of OKEx, one of China’s largest crypto exchanges, have gained some freedom. This may bring a little bit of optimism in the investigation storm sweeping the Chinese crypto industry. pic.twitter.com/Bvf0ZPytgO
— Wu Blockchain（Chinese Crypto Reporter） (@WuBlockchain) November 18, 2020
“Star Xu, the head of OKEx, one of China’s largest crypto exchanges, has gained some freedom. This could bring a little optimism into the investigation storm sweeping the Chinese crypto industry,” wrote Colin Wu.
According to him, it is not yet clear whether Xu was released on bail or the investigation against him has been dropped. He had been confined to a residence, the journalist clarified.
On October 16 OKEx suspended withdrawals. In a statement the exchange explained that one of the holders of private keys was not reachable and was cooperating with law enforcement.
Media reported that Star Xu had been arrested. However, a representative of the exchange told ForkLog that this information was false. He added that the founder of OKEx is not a key holder and does not participate in the company’s operations.
On November 17 the exchange confirmed that withdrawals remain impossible.
Update Nov 17:
Weekly Trading Report — trading volume, crypto asset inflows & OKB: https://t.co/j18sDzj8Rr
Trading will resume for BCHUSD & BCHUSDT futures at 09:00 Nov 18 UTC: https://t.co/hB0BrbvZ4x
Withdrawals remain suspended. Funds are safe: https://t.co/1fxZsOj6Cj
— OKEx (@OKEx) November 17, 2020
According to Colin Wu, OKEx has already established contact with Star Xu.
The journalist noted that the investigation into the former head of OKEx and the former Huobi CFO Chris Li continues, but the news that Xu has gained a certain degree of freedom could be a good sign for him.
The OKB token, used on the OKEx trading platform, after the withdrawal suspensions fell more than 30% — from around $5.90 to $4.05. In the following days the quotes partially recovered and on November 18 OKB traded around $5.
Source: TradingView.
Ранее котирующаяся на Гонконгской фондовой бирже компания OKG анонсировала проведение 27 ноября заседание совета директоров на фоне отсутствия связи с основным акционером — Стар Сюем.
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