2024-03-24 14:07:21
OKX executive Mingxing Xu is being investigated by US authorities, according to online reports. Xu denies the claims, saying they are just trying to create FUD among users.
The rumor made headlines in the Chinese crypto community after a prominent X user named Alvin said he had received inquiries from the US about the investigation. However, Alvin denied the news and said that he thinks that some people only want to manipulate the exchange rate of the exchange’s native cryptocurrency, OKB.
Many people have asked me today if the rumor that Xu Xingxing was arrested by the Americans is true. I believe this is most likely a rumour.
it reads in your X entry.
The exchange rate of OKB showed less volatility in recent weeks, but in general it can be said that it followed the general state of the crypto market. Last week, the price of the token touched $54, but at the time of writing, it was already worth $63.62.
Gala Wen, OKX’s head of collaborations, also dismissed the claims as false. As he said, Xu is actively involved in the company’s American activities, and he considers it impossible to be involved in any legal problems.
This is so fake. Arrests in the United States are public information and anyone can check them on a government website. The US office is very big and the boss personally manages the business. We work hard and with great enthusiasm every day.
Wen said.
This wouldn’t be the first time the OKX leader has been against him
Xu has been involved in controversy before. In 2020, it faced scrutiny in China after the exchange temporarily suspended allocations, causing panic in the market.
In any case, it is interesting that the current rumor comes at a time when OKX is facing increased regulatory scrutiny in several jurisdictions. Last month, South Korean authorities launched a criminal investigation against the company. According to the suspicion, they did not engage in public activities and promoted their services with domestic influencers.
In fact, the US regulatory environment is also hostile to the emerging sector. The US Securities and Exchange Commission (SEC) has taken several legal actions in the past, which led to the withdrawal of some crypto exchanges. Nor would it be new to initiate proceedings against the head of a crypto exchange, as was recently done against Binance head Changpeng Zhao.
Published on the BitcoinBázis page.
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