{"id":32001,"date":"2020-11-19T09:55:42","date_gmt":"2020-11-19T07:55:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32001"},"modified":"2025-08-28T06:33:26","modified_gmt":"2025-08-28T03:33:26","slug":"okb-jumps-about-15-after-reports-okex-founder-star-xu-released-from-custody","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/okb-jumps-about-15-after-reports-okex-founder-star-xu-released-from-custody\/","title":{"rendered":"OKB jumps about 15% after reports OKEx founder Star Xu released from custody"},"content":{"rendered":"<p>Chinese journalist Colin Wu reported that OKEx founder Star Xu \u201chas gained some freedom.\u201d The OKB token price rose from around $5 to $5.76.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Exclusive\uff1aStar Xu, the head of OKEx, one of China\u2019s largest crypto exchanges, have gained some freedom. This may bring a little bit of optimism in the investigation storm sweeping the Chinese crypto industry. <a href=\\\"https:\/\/t.co\/Bvf0ZPytgO\\\">pic.twitter.com\/Bvf0ZPytgO<\/a><\/p>\n<p>\u2014 Wu Blockchain\uff08Chinese Crypto Reporter\uff09 (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1329096351615840256?ref_src=twsrc%5Etfw\\\">November 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\u201cStar Xu, the head of OKEx, one of China\u2019s largest crypto exchanges, has gained some freedom. This could bring a little optimism into the investigation storm sweeping the Chinese crypto industry,\u201d wrote Colin Wu.<\/p>\n<p>According to him, it is not yet clear whether Xu was released on bail or the investigation against him has been dropped. He had been confined to a residence, the journalist clarified.<\/p>\n<p>On October 16 OKEx <a href=\"https:\/\/u1f987.com\/en\/news\/okex-suspends-withdrawals-media-report-founder-detained\">suspended<\/a> withdrawals. In a statement the exchange explained that one of the holders of private keys was not reachable and was cooperating with law enforcement.<\/p>\n<p>Media reported that Star Xu had been arrested. However, a representative of the exchange told ForkLog that this information was false. He added that the founder of OKEx is not a key holder and does not participate in the company\u2019s operations.<\/p>\n<p>On November 17 the exchange confirmed that withdrawals remain impossible.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Update Nov 17:<\/p>\n<p>Weekly Trading Report \u2014 trading volume, crypto asset inflows &#038; OKB: <a href=\\\"https:\/\/t.co\/j18sDzj8Rr\\\">https:\/\/t.co\/j18sDzj8Rr<\/a><\/p>\n<p>Trading will resume for BCHUSD &#038; BCHUSDT futures at 09:00 Nov 18 UTC: <a href=\\\"https:\/\/t.co\/hB0BrbvZ4x\\\">https:\/\/t.co\/hB0BrbvZ4x<\/a><\/p>\n<p>Withdrawals remain suspended. Funds are safe: <a href=\\\"https:\/\/t.co\/1fxZsOj6Cj\\\">https:\/\/t.co\/1fxZsOj6Cj<\/a><\/p>\n<p>\u2014 OKEx (@OKEx) <a href=\\\"https:\/\/twitter.com\/OKEx\/status\/1328735861341646848?ref_src=twsrc%5Etfw\\\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to Colin Wu, OKEx has already established contact with Star Xu.<\/p>\n<p>The journalist noted that the investigation into the former head of OKEx and the former Huobi CFO Chris Li <a href=\"https:\/\/u1f987.com\/en\/news\/media-former-huobi-and-okcoin-cfos-accused-of-wrongdoing-in-hong-kong-listed-company-purchases\">continues<\/a>, but the news that Xu has gained a certain degree of freedom could be a good sign for him.<\/p>\n<p>The OKB token, used on the OKEx trading platform, after the withdrawal suspensions fell more than 30% \u2014 from around $5.90 to $4.05. In the following days the quotes partially recovered and on November 18 OKB traded around $5.<\/p>\n<div id=\\\"attachment_117052\\\" style=\\\"width: 1570px\\\" class=\\\"wp-caption alignnone\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-117052\\\" class=\\\"wp-image-117052 size-full\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1.png\\\" alt=\\\"Price of OKEx token jumped 15% after news of exchange founder's arrest\\\" width=\\\"1560\\\" height=\\\"851\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1.png 1560w, https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1-300x164.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1-1024x559.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1-768x419.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Bez-nazvaniya-14-1-1536x838.png 1536w\\\" sizes=\\\"auto, (max-width: 1560px) 100vw, 1560px\\\" \/><\/p>\n<p id=\\\"caption-attachment-117052\\\" class=\\\"wp-caption-text\\\">Source: TradingView.<\/p>\n<\/div>\n<p>\u0420\u0430\u043d\u0435\u0435 \u043a\u043e\u0442\u0438\u0440\u0443\u044e\u0449\u0430\u044f\u0441\u044f \u043d\u0430 \u0413\u043e\u043d\u043a\u043e\u043d\u0433\u0441\u043a\u043e\u0439 \u0444\u043e\u043d\u0434\u043e\u0432\u043e\u0439 \u0431\u0438\u0440\u0436\u0435 \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044f OKG <a href=\"https:\/\/u1f987.com\/en\/news\/media-okg-linked-to-okex-founder-to-hold-board-meeting\">\u0430\u043d\u043e\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0430<\/a> \u043f\u0440\u043e\u0432\u0435\u0434\u0435\u043d\u0438\u0435 27 \u043d\u043e\u044f\u0431\u0440\u044f \u0437\u0430\u0441\u0435\u0434\u0430\u043d\u0438\u0435 \u0441\u043e\u0432\u0435\u0442\u0430 \u0434\u0438\u0440\u0435\u043a\u0442\u043e\u0440\u043e\u0432 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0442\u0441\u0443\u0442\u0441\u0442\u0432\u0438\u044f \u0441\u0432\u044f\u0437\u0438 \u0441 \u043e\u0441\u043d\u043e\u0432\u043d\u044b\u043c \u0430\u043a\u0446\u0438\u043e\u043d\u0435\u0440\u043e\u043c \u2014 \u0421\u0442\u0430\u0440 \u0421\u044e\u0435\u043c.<\/p>\n<p>\u041f\u043e\u0434\u043f\u0438\u0441\u044b\u0432\u0430\u0439\u0442\u0435\u0441\u044c \u043d\u0430 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 ForkLog \u0432 Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 \u0432\u0441\u044f \u043b\u0435\u043d\u0442\u0430 \u043d\u043e\u0432\u043e\u0441\u0442\u0435\u0439, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 \u0441\u0430\u043c\u044b\u0435 \u0432\u0430\u0436\u043d\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u043e\u043f\u0440\u043e\u0441\u044b.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese journalist Colin Wu reported that OKEx founder Star Xu \u201chas gained some freedom.\u201d The OKB token price rose from around $5 to $5.76.<\/p>\n","protected":false},"author":1,"featured_media":32002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1291],"class_list":["post-32001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-okx"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32001"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32001\/revisions"}],"predecessor-version":[{"id":32003,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32001\/revisions\/32003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32002"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}