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OKEx CEO steps down to ‘start a new life’

Arjun B



OKEx CEO steps down to 'start a new life'
Source: PxHere

On Monday May 14th, the Chief Executive Officer of OKEx Chris Lee has announced his resignation right before the firm was about to become the world’s largest cryptocurrency exchange. Chris Lee has apparently emailed his resignation stating that he wants to ‘start a new life’.

OKEx is a cryptocurrency trading platform based in Belize, which also offers payment wallets.

The spokesperson for Chris Lee has issued a separate statement on behalf of CEO himself mentioning that it was his greatest pleasure and honor to have worked with OKEx exchange. He had left office due to personal reasons. He did not explain in detail of his reason for resignation to the people, but he did mention that he was going to return to the Blockchain community.

The resignation of the CEO comes following a rough period for the firm, as there is unusual activity in its future markets but in the last 24 hours, OKEx is handling more than $2 billion of cryptocurrency trades. OKEx is the world’s most active crypto trading exchange which charges trading fees. The firm has recently overtaken Binance and is climbing up in the global ranking over the past few weeks.

There was also information that the trading volume was mostly fabricated by the engineers at OKEx, which subsequently makes it the biggest cryptocurrency exchange in the world. By the end of March, the markets forced staff to roll back some future contracts after many users had suddenly liquidated and millions of dollars had been lost.

Alistair Milne Entrepreneur and Investor have tweeted that:

“Or perhaps they are back to their old tricks”

Marshal Tom Cryptocurrency Trader has tweeted that:

“I would be concerned if the CEO knows something as in the ‘titanic’..”

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XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17

Akash Anand



XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17
Source: Pixabay

The cryptocurrency market’s volatile behavior was reflected in the ‘buy-in and sell’ sentiments. Despite the bear market taking over again, analysis of the market shows that there are some silver linings. XRP, the third largest cryptocurrency in the market, has not had a fantastic start to 2019 and this was even shown during the recent bullish spike.

XRP was one of the worst performers among the top 10 club at a time when some of the other currencies saw double-digit gains and Bitcoin [BTC] broke the $5000 barrier. New analysis, though, points to the fact that there has been a significant rise in XRPUSD longs on Bitfinex, some even registering record gains. Reports from BehindtheLedger stated that:

“Some are discussing record high XRPUSD longs on Bitfinex. It’s good to look at the ratio of shorts to longs (or vice versa if you prefer) rather than just the longs though. Doing so reveals that shorts have increased more than longs in the past few days.”

At a time when the XRP shorts are on a high, the USD shorts were up by a massive 85 percent on April 17. The analysis from behindtheledger also admitted:

“This isn’t a price prediction and frankly, this indicator probably isn’t reliable

But it’s always good to look at both sides of the equation.”

XRP’s trade has been majorly influenced by developments in its realm with the last major claim coming from Coincheck as the organization provided over-the-counter trading support for Ethereum and XRP on its platform. The exchange had announced:

“ETH XRP has been added to the target currency for large OTC transactions! We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019.”

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