Investor James Altucher to launch cryptocurrency exchange

American hedge fund manager James Altucher plans to raise funds to launch a digital asset trading platform
07 January 2018   1182

James Altucher is an American Wall Street investor, hedge fund manager, entrepreneur, best-selling author, venture capitalist, and podcaster, who has founded or co-founded more than 20 companies. He is widely promoting the idea of Bitcoin stating that the future belongs to cryptocurrency and blockchain.

And ALL of logistics will be replaced by Bitcoin (e.g. UPS is replacing all of their internal logistics (tracking millions of packages every day going from millions of locations to millions of other locations) by Bitcoin technology. There’s nothing behind paper money or gold like this.

James Altucher blog post

In the beginning of January of 2018 it was revealed in a U.S. Securities and Exchange Commission filing that Altucher is backing a company called Bitzumi, Inc., which plans to launch a Bitcoin exchange, and Altucher and his colleagues plan to raise $10M to start a crypto trading platform.

Initially, our primary focus will be to develop a publishing and marketing company to educate potential Bitzumi exchange/wallet consumers, and to gain name recognition — Ultimately, we intend for our primary product to be our cryptocurrency exchange and digital storage — We also plan to develop various educational and information products and newsletters focusing on the cryptocurrency industry.

U.S. Securities and Exchange Commission filing

As it is stated in the filing, BTC, LTC, Ripple and ETH trading will be initially available on Bitzumi, and the exchange will be fully regulated working with U.S. officials from Fincen, SEC, CFTC, and the IRS.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   91

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.