The founder of cryptocurrency exchange Okex re-appeared after a month after cooperating with authorities in an investigation. Xi Jinping called on countries to work together on digital currency standards. Goldman Sachs expects the digital yuan will reach 1 billion users in 10 years, while news surfaced of a second lottery to test China’s digital currency.
The world of blockchain moves fast, and nowhere does it move faster than China. Here’s what you need to know about China’s block-world in the week of Nov. 18-24.
The CEO of OK Group and founder of cryptocurrency exchange Okex resurfaced on Thursday after being unreachable for over a month, Bloomberg reported.
Xu Mingxing, also known as Star, posted on his Wechat moments that he had been cooperating with authorities investigating OK Group’s backdoor listing in 2017.
“The authorities have clarified the matter and proved me innocent,” Xu said, according to the report. The exchange said it expects to resume withdrawals by Nov. 27.
Okex paused cryptocurrency withdrawals on Oct. 16 because one of the key holders was unreachable, the exchange said. Rumors then began circulating that it was Xu.
Okex’s token, OKB, has gained about 19% since the news broke last week of Xu’s reappearance.