After BitFinex, Chinese Bitcoin Exchange OKCoin Suspends Wire Transfers
Prominent China-based bitcoin exchange OKCoin joins Hong Kong-based Bitfinex in freezing wire transfers, citing ‘issues’ with intermediary banks. The announcement was visible on OKCoin users’ dashboards yesterday, 18th April, and has since been shared on public message boards, including Reddit. The notice in its entirety reads: Starting from today (April 18, 2017), Okcoin would temporarily suspend USD deposit because of the issues with intermediary banks. Please do not make further deposit [sic] because your wires may be rejected by intermediary banks. We are actively looking for....
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Today marks a special day: The first day that newcomer international Bitcoin exchange OKCoin.com has had a higher daily Bitcoin volume than all other exchanges. In the last 24 hours, OKCoin.com has transacted nearly 16,000 BTC, compared with Bitstamp's ~14,700 BTC and Bitfinex's ~15,100 BTC. OKCoin.com is the international arm of OKCoin. OKCoin also runs OKCoin.cn, a Chinese Bitcoin exchange that also has high volume CNY/BTC trading but does not charge fees (the Chinese norm). Whether or not OKCoin's lead in 24-hour Bitcoin volume will persist until tomorrow is anybody's guess. However, it....
OKCoin International Operations Manager Zane Tackett recently announced that he has resigned from the Bitcoin exchange due to misaligned opinions. "For the past year I've handled the majority of the community outreach for OKCoin and have interacted with this community as the OKCoin representative," he said in an informal post. "Unfortunately, due to a difference of opinions I have decided to resign from OKCoin." Tackett joined OKCoin in April 2014, a time when the Chinese exchange had just received funds around $US10 million and was planning to expand globally. He later became a prominent....
OKCoin made company history today, when its international exchange became the world's most active bitcoin-to-dollar trading platform over a 24-hour period. The company posted a USD trade volume of 16,342.42 BTC over the most recent 24-hour period on its site, compared to Bitstamp's 14,463.93 BTC, Bitfinex's 15,552.2 BTC, and BTC-e's 6,556.18 BTC. While OKCoin has been ahead of BTC-e for the past week, it is the first time the exchange has topped Bitstamp and Bitfinex, which are commonly regarded as the world's most popular. Higher numbers on Chinese exchanges refer to BTC/CNY volumes.....
Former OKCoin manager of international operations Zane Tackett has announced he will join Hong Kong-based bitcoin exchange Bitfinex. Tackett became the latest public-facing figure to resign from OKCoin on 10th March. At the time, he cited a difference of opinion as well as unsolved problems facing the exchange as motivating factors. Tackett revealed his position at Bitfinex will be familiar, as he will take over community outreach and product development, roles he also played at OKCoin. Further, he discussed some of the challenges facing the USD bitcoin trading leader, arguing the exchange....
Earlier this month, bitcoin had one of its best weeks since August 2014, as the price of bitcoin peaked US$500 in international exchanges, including OKCoin, BTCC, BitFinex and Bitstamp. However, bitcoin price immediately began to plummet, falling back down to US$356 at today's low, recording a nearly 30% decline since its peak on November 5. As a result, the trading volume of prominent Chinese bitcoin exchanges including OKCoin have almost halved over the past week. OKCoin, the world's largest bitcoin exchange (by trading volume) suspects that the slowdown in bitcoin trading activity in....