OKEx to support UnitedBitcoin trading

OKEx crypto exchange announced support for airdrop, deposit, and trading of UBTC which is a fork of Bitcoin implemented on December 12 of 2017
08 January 2018   251

UnitedBitcoin is the upgrade of Bitcoin implementing smart contracts. Its features include proof-of-work inherited from Bitcoin with new high-speed smart contracts and faster transactions through the Lightning network. It forked from Bitcoin blockchain at block height #498,777 on December 12 of 2017.

On January 8, OKEx exchange has announced that users would be able to claim, deposit, and trade UnitedBitcoin (UBTC) with details as follow:

  • UBTC deposit will be available at 18:00, January 8 (Hong Kong Time, GMT +8)
  • UBTC claim and trading will be available at 20:00, January 8 (Hong Kong Time, GMT +8)

As it is stated in the announcement, the users will receive UBTC based on their BTC balance on a 1:1 ratio at the time of the BTC snapshot. All claimed UBTC will be deposited directly into their OKEx spot trading account.

At the moment of press, these are main market parameters of UnitedBitcoin:

  • Average price: $306,79
  • 24h volume: $153 667

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   121

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission