OKEx Founder Released from Custody and Denies Fraud

Yesterday, it was announced that OKEx founder Star Xu had been taken into police custody for fraud allegations. If no substantial evidence was found, Xu would be released from custody in a 24-hour period. According to local news reports, Xu has been released and isn’t pleased. OKEx Founder Strikes Back “I have no fictional facts, concealing the truth and defrauding anything, and there is no fact of ‘fraud.’ After I explained it to the police, I left the police station normally,” Xu told the local news outlet, Honeycomb Finance. Xu…

Huobi Global Buys Large Chunk of BitTrade

In a major announcement, Huobi Global buys BitTrade. Huobi Japan Holding Ltd, Huobi Global’s wholly owned subsidiary, just acquired the majority stake of Japan’s BitTrade. Huobi Global owns and operates Huobi, the third largest cryptocurrency exchange by daily trade volume. Huobi Global Buys BitTrade Huobi will partner with BitTrade, one of the only 16 regulated and Japanese government-approved crypto currency trading platforms.https://t.co/7dBwXX5Yag@bittrade_info #Huobi #HuobiGlobal — Huobi Global (@HuobiGlobal) September 12, 2018 BitTrade is one one of only 16 Japanese-government approved and regulated cryptocurrency trading platforms. Huobi currently serves millions of…

Are Stablecoins Viable? One Berkeley Professor Says No

Stablecoins are becoming popular. There’s no denying it; a number have hit the market this year. In fact, just yesterday, the Winklevoss twins announced the Gemini Dollar—the first-ever regulated stablecoin. Not to mention Carbon launched CarbonUSD, a US dollar backed stablecoin, today. And yet, despite the crypto market displaying optimism around the latest trend in the industry, one Berkeley Professor provided an alternative view. He said there is no indication that stablecoins are viable. Berkeley Professor Talks Stablecoins Stablecoins are cryptocurrencies pegged to a stable asset. That’s as simple as…

Carbon Launches CarbonUSD: US Dollar Backed Stablecoin

Crypto project Carbon is launching its own stablecoin called CarbonUSD. According to its website: “Carbon is a price-stable cryptocurrency that is creating a more efficient and inclusive global economy.” The coin will be based on the Ethereum network and is said to be backed one-for-one by the US dollar. Its arrival comes a week after the release of two competitor stablecoins, the Gemini dollar and Paxos Standard. What’s all the fuss about stablecoins? Stablecoins Stablecoins have become a more popular crypto release of recent months. Designed to bring stability to such a volatile market, the idea behind them…