Decentralized cryptocurrency exchange BHEX Exchange has concluded a $15 million funding round with support from major exchanges like Huobi and OKCoin, according to a press release shared with Cointelegraph Nov. 29. Per the release, BHEX’s new round of funding was conducted with participation from leading industry players, including Huobi Global, OKCoin, and Genesis Capital, among others. BHEX’s investment subscription has purportedly attracted over 70 investment institutions, while Blue Helix selected 40 to participate in the first round of investment. Apart from digital asset exchange, the company provides custody and clearing infrastructure services with blockchain technology. BHEX will officially launch at …

The annual Hurun China Rich List, a catalogue of individuals in the country with a net worth over 2 billion yuan ($209 million), has listed several crypto entrepreneurs among China’s financial elite, according to a release published Oct. 10. The Hurun Research Institute released the 2018 Hurun China Rich List of the richest individuals in the country, with at least 13 entrepreneurs whose business is related to cryptocurrency mining and trading. The ranking includes such industry players as Micree Zhan Ketuan, co-founder of computer chip manufacturer of and software firm Bitmain Technologies, in the top 100 richest people in China, …

The Liquid Network sidechain for the Bitcoin (BTC) blockchain went live on Sept. 27, according to an Oct. 10 post from Blockstream. Blockstream is a blockchain development company founded in 2014, with Samson Mow as its current CSO. The Liquid Network project, first discussed in 2015, was then launched in October 2018 in order to allow for better liquidity between Bitcoin exchanges and brokers. According to Blockstream’s blog post, the Liquid blockchain generated its first block on Sept. 27, 2018 at 1:29 UTC with participation from 23 crypto industry members including Bitfinex, OKCoin, BitMEX, and the SIX Digital Exchange. The …

Digital currency exchange OKCoin has announced its expansion of token-to-token trading into twenty new U.S. states, according to a statement published September 12. Per the announcement, OKCoin has extended trading services to the states of Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin. Jim Nguyen, Vice-President of Marketing at OKCoin, stated in the blog post that the exchange collaborated with regulators in each state in order to comply with both federal and state laws. OKCoin CEO Tim Buyn said: “In order for the cryptocurrency market to …

Cryptocurrency exchange OKEx founder Star Xu has today, September 12, hit back at allegations of fraud after conflicting reports over why Chinese law enforcement summoned him to a police station for 24 hours Monday. According to multiple local media sources, Xu, also the CEO of OKCoin, had faced problems at his hotel from a group of “investors” allegedly linked to WFEE Coin, a blockchain WiFi sharing project they said Xu held shares in. Alleged illicit activity on the part of WFEE had led those affected to seek justice, whereupon they alerted police in Shanghai who brought in Xu to assist …

Huobi Global's wholly owned subsidiary, Huobi Japan Holding Ltd, has recently acquired a majority stake in Japan’s BitTrade — one of only 16 regulated crypto exchanges in the country, Cointelegraph Japan reports Wednesday, September 12. As Cointelegraph has learned, Huobi Japan will get 100 percent of the shares from True Joyful Limited, BVI, which holds holds all of the beneficiary interest in the company. FXTF Asset Investment Private Ltd. reportedly had 75 percent of the shares, with FX Trade Financial with 25 percent. Haiteng Chen, the acting president of Huobi Japan, was named as a chairman of BitTrade while Chris …

A Chinese Bitcoin (BTC) investor has sued local crypto exchange OKCoin for allegedly preventing him from getting Bitcoin Cash (BCH) after the BTC fork, local news agency Legal Weekly reports July 31. The case is reportedly the first legal action in China that involved last year’s fork of Bitcoin. The investor, known under the pseudonym Feng Bin, filed a lawsuit against OKCoin, accusing the exchange of blocking him from receiving 38.748 BCH that he was due after Bitcoin’s hard fork in August 2017. In the lawsuit, Feng Bin states that he attempted to sell the Bitcoin Cash when the digital …

The outgoing CEO of OKEx crypto exchange has joined rival exchange Huobi just days after resigning from his former post, Cointelegraph Japan reports today, May 21. Li Shufei, also known as Chris Lee, left his roles as CEO of OKEx and CFO of parent operator OkCoin on May 14, reportedly to “start a new life.” Lee is now joining Huobi as Board Secretary and VP of International Business Development, effective May 18. Among many tasks, Lee will support Huobi's global business development (including Japan, Korea, the Middle East and APAC), as well as Huobi's management and financing strategies, according to …

What are futures? Futures are an agreement to buy or sell an asset on a specific future date at a specific price. Once the futures contract has been entered, both parties have to buy and sell at the agreed-upon price, irrespective of what the actual market price is at the contract execution date. The goal is not necessarily profit maximization. It’s a risk management tool, often used in financial markets to hedge against the risk of changing prices of assets that are bought and sold on a regular basis. Futures are also used in portfolios to balance out price fluctuations …

China’s Bitcoin-to-fiat exchange and ICO ban is producing a record number of “desperate” refugees, Quoine’s CEO Mike Kayamori has said. In comments to Bloomberg, the Japanese exchange head said the fallout from the Chinese rules means the country’s exchange operators are fervently looking for alternatives, including in Japan. “We’re talking to almost all of those guys. They’re all desperate now,” he told the publication. Japan offers a ‘friendlier’ licensed environment for crypto exchange businesses, while China’s household names such as OKCoin and Binance are eyeing up Hong Kong, Singapore and South Korea. Kayamori said that such is the scale of …

Former Secret Service agent Shaun Bridges plead guilty to stealing over US$800,000 worth of bitcoin while investigating Silk Road; a Goldman Sachs global investment research analyst praised blockchain technology, and more top stories for September 1. Silk Road Investigator Shaun Bridges Pleads Guilty in Bitcoin Theft Former Secret Service agent Shaun Bridges has plead guilty to stealing over US$800,000 worth of bitcoin during an investigation into online black marketplace Silk Road. The 33 year old Bridges admitted to money laundering and obstruction of justice in federal court in San Francisco . Bridges also admitted that his theft made convicted Silk …

OKCoin gave away 10 Million RMB and encouraged users to give it to their friends through WeChat, following a growing trend of sending traditional red envelopes through the popular chat program. The promotion awarded users with an amount between 1mBTC and 1BTC, then encouraged them to send that amount (or more from their linked OkCoin account) to their friends. The amount sent to each friend would be randomly determined. While giving cash is sometimes seen as impersonal in the west, giving cold cash is an accepted and expected practice during the Chinese New Year. Giving out Red Envelopes full of …