Centralized crypto exchanges play a huge part in the crypto trading ecosystem. However, the FTX collapse showcased how difficult it is to trust exchanges with user funds. Despite this, crypto trading platforms continue to believe that they can win back the community’s trust. Speaking to Cointelegraph, executives from crypto exchanges OKX, Gate.io and Bitpanda shared their insights on how trading platforms can recover from the effects of the FTX debacle. According to Dion Guillaume, an executive at Gate.io, transparency in terms of custody of user assets has become of vital importance. Guillaume told Cointelegraph that this also motivated their platform …

Crypto exchange OKX has released a Proof of Reserves page that allows users to audit its reserves to make sure it is solvent. This comes at a time when crypto exchanges are coming under greater scrutiny after the collapse of FTX. OKX announced the new page in a tweet, as well as on its blog. Don’t trust, verify → OKX Proof of Reserves (PoR) is LIVE. To set a new standard of transparency, risk management and user protection, we’re launching our first PoR. You can now verify your assets are backed 1:1 on #OKX ⤵️ Details — OKX (@okx) November …

Companies become industry giants when they provide the best user experience in the simplest form possible. Google, for example, has the most advanced search engine on the whole planet. And how does it provide that sci-fi-level technology to the user? By a simple, one-line search bar. Apple’s motto is removing the hardware from the user experience (UX) as a layer. It means that when users forget that they are holding a smartphone and browsing an app while scrolling down memory lane, Apple succeeds. Technology needs to hit the perfect balance between utility and usability — comprehensive features and ease of …

Cryptocurrency exchange FTX has lost at least one potential rescuer as it battles to fill a reported multi-billion dollar hole in its balance sheet. The CTO of stablecoin issuer Tether, Paolo Ardoino on Nov. 10 confirmed the company does not have “any plans to invest or lend money to FTX/Alameda.” Tether does not have any plans to invest or lend money to FTX/Alameda. Full stop. — Paolo Ardoino (@paoloardoino) November 10, 2022 Ardoino’s comments came after a Nov. 10 report from Reuters suggested that FTX is now at a $9.4 billion shortfall, with FTX CEO Sam Bankman-Fried reaching out to …

In the wake of the FTX liquidity crisis, two major crypto exchanges have announced that they will provide Proof of Reserves, also known as Proof of Funds (PoF) within the next month. In an official tweet, OKX stated “We're hiring Armanino for auditing & will publish an auditable Merkle POF asap.” The company then listed 23 BTC addresses and 13 Ethereum addresses containing some of the exchange’s reserves. For #OKX, transparency, risk management, & consumer protection come first. We're hiring Armanino for auditing & will publish an auditable Merkle POF asap. Here are 23 BTC addresses (~69K BTC) & 13 …

The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11% respectively. The scenario changed drastically on Oct. 17 after earnings season ramps up and a sharp policy reversal from UK finance minister Jeremy Hunt added detail to the government's plan to fix his predecessor's (Kwasi Kwarteng) fiscal package which triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of writing, the Dow is up 1.78%, while the S&P 500 …

Bitcoin (BTC) showed strength on Oct. 4 and Oct. 5, posting a 5% gain on Tuesday and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000. $BTC #Bitcoin Shared this descending channel 2 days ago.$BTC has managed to break through the middle line. Next target = Upper channel trendline = ~21.5k. In case of a breakout, 28k-30k are possible. pic.twitter.com/dyqMLdcXZ4 — ⓗ (@el_crypto_prof) October 4, 2022 As described by @el_crypto_prof, the descending channel continues to exert its pressure, but there could …

McLaren's Australian driver Daniel Ricciardo sat down with Cointelegraph during the Token2049 conference in Singapore, discussing his recent involvement in crypto ahead of the 2022 Singapore Grand Prix. Alongside OKX CMO Haider Rafique, the duo delved into a new partnership between McLaren Racing and the crypto exchange, exploring a variety of entertaining marketing moves between the two brands. Ricciardo featured in a new OKX advert launched earlier this year standing alongside the McLaren MCL36 F1 racing car while his "spirit animal" honey badger sat in the cockpit of the vehicle. The tongue-in-cheek advert highlights the relatively unknown status of the …

Many traders frequently express some relatively large misconceptions about trading cryptocurrency futures, especially on derivatives exchanges outside the realm of traditional finance. The most common mistakes involve futures markets’ price decoupling, fees and the impact of liquidations on the derivatives instrument. Let’s explore three simple mistakes and misconceptions that traders should avoid when trading crypto futures. Derivatives contracts differ from spot trading in pricing and trading Currently, the aggregate futures open interest in the crypto market surpasses $25 billion and retail traders and experienced fund managers use these instruments to leverage their crypto positons. Futures contracts and other derivatives are …

Bitcoin (BTC) showed weakness on Aug. 15, posting a 5% loss after testing the $25,000 resistance. The move liquidated over $150 million worth of leverage long positions and has led some traders to predict a move back toward the yearly low in the $18,000 range. The price action coincided with worsening conditions for tech stocks, including Chinese giant Tencent, which is expected to post its first-ever quarterly revenue decline. According to analysts, the Chinese gaming and social media conglomerate is expected to post quarterly earnings around $19.5 billion, which is 4% lower than the previous year. Moreover, on Aug. 16, …

Crypto exchange OKX has acquired a provisional virtual assets license granted by the Dubai Virtual Assets Regulatory Authority (VARA), allowing them to offer additional services to qualified investors and financial services providers in Dubai, United Arab Emirates (UAE). In a statement, the OKX team told Cointelegraph that the license allows them to extend products and services in the region. Following this, the exchange will also facilitate research and knowledge sharing within the VARA regulatory ecosystem. The team underscored that regulatory compliance is a priority for them as it protects users. According to Tim Byun, government relations officer at OK Group, …

Crypto exchange OKX has announced that it has made a deal with English Premier League (EPL) champions Manchester City to become the team’s training kit sponsor for the 2022-23 season. Despite the current bear market, it appears that crypto and sports partnerships have been going strong, with fellow EPL team Everton also recently signing a match kit sponsorship with crypto gambling firm Stake. At the same time, PSG has also launched preseason nonfungible token (NFT) tickets. The OKX deal will put a fair amount of eyeballs on company branding, given that Manchester City won the EPL last season and is …