{"id":75447,"date":"2023-03-13T15:32:06","date_gmt":"2023-03-13T13:32:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75447"},"modified":"2025-09-10T11:43:41","modified_gmt":"2025-09-10T08:43:41","slug":"okcoin-suspends-usd-deposits","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/okcoin-suspends-usd-deposits\/","title":{"rendered":"OKCoin suspends USD deposits"},"content":{"rendered":"<p>US-based OKCoin has temporarily halted USD deposits amid problems in the banking sector. This was reported by the exchange&#8217;s CEO, Hong Fan.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It\u2019s been a wild week. Silvergate. SVB. Now Signature. <\/p>\n<p>We had no exposure to SVB (or any of the previous blow-ups)<\/p>\n<p>We managed Silvergate situation<\/p>\n<p>Signature IS our primary USD bank for customer transactions. So this Sunday news did have some short-term implications?<\/p>\n<p>\u2014 Hong (@hfangca) <a href=\"https:\/\/twitter.com\/hfangca\/status\/1635150324544724994?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the top executive, deposits of private and corporate users are secure, and the situation did not affect the ability to withdraw funds in US dollars.<\/p>\n<p>OKCoin paused over-the-counter trading.<\/p>\n<p>Customers can fund accounts and withdraw euros and digital assets.<\/p>\n<p>Trading on the platform continues as normal. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>That was a crazy week. <\/em><a href=\"https:\/\/forklog.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\"><em>Silvergate<\/em><\/a><em>. <\/em><a href=\"https:\/\/forklog.com\/en\/news\/venture-capital-investors-distance-themselves-from-silicon-valley-bank-amid-liquidity-concerns\"><em>SVB<\/em><\/a><em>. Now <\/em><a href=\"https:\/\/forklog.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\"><em>Signature<\/em><\/a><em>. We have no exposure to SVB risks (or any other banks that have been bailed out recently). We managed the fallout from Silvergate\u2019s departure. Signature is our main bank for client USD transactions. The weekend news led to some short-term implications<\/em>,<\/em> \u2014 said Fan.  <\/p>\n<\/blockquote>\n<p>The OKCoin CEO said that in real time the team is developing alternative solutions. She stressed that the exchange had faced much worse times in the past.<\/p>\n<p>The platform\u2019s utility token rose 4.3% in value over the last 24 hours, according to<a href=\"https:\/\/www.coingecko.com\/\"> CoinGecko<\/a>.<\/p>\n<p>Earlier, Justin Sun<a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-says-he-is-willing-to-back-the-creation-of-a-bank-for-the-crypto-industry\"> stated<\/a> his readiness to back the creation of a bank for the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US-based OKCoin has temporarily halted USD deposits amid problems in the banking sector. This was reported by the exchange&#8217;s CEO, Hong Fan.<\/p>\n","protected":false},"author":1,"featured_media":75448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,231],"class_list":["post-75447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-okcoin"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=75447"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75447\/revisions"}],"predecessor-version":[{"id":75449,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75447\/revisions\/75449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75448"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}