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26 November 2020

OKEx Token Price Rises 11% on Rumors of Founder’s Release - Decrypt

OKEx Token Price Rises 11% on Rumors of Founder’s Release - Decrypt


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OKB, the coin that powers Chinese cryptocurrency exchange OKEx, jumped by 11% today after rumors surfaced that Chinese authorities have released from custody the exchange’s founder, Mingxing “Star” Xu.

The exchange paused withdrawals after reports surfaced that Chinese police had taken Xu into custody.

“Wu Blockchain,” a Chinese crypto reporter, today posted rumors that Xu has “gained some freedom” and that Chinese police haven’t yet worked out whether to end the investigation or to release him on bail ahead of a trial.

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