SEC halted UBI Blockchain trading

SEC's decision is caused by the fact that information provided by UBI may not be true, as well as with "recent unusual and inexplicable activity in the market"
09 January 2018   565

SEC suspended trading on shares of UBI Blockchain Internet, which is engaged in promoting programs and services in the field of blockchain. The regulator said that this decision is due to the fact that the information provided by UBI may not be true, as well as with "recent unusual and inexplicable activity in the market."

UBI Blockchain was able to achieve a capitalization of $ 800 million in the wake of the popularity of crypto-currency, despite the lack of profitability per se and the idle phone number, Bloomberg reported citing the SEC statement.

We believe the general public is confusing our blockchain technology with bitcoin companies. [UBI Blockchain was] involved in blockchain technology for well over two years before the bitcoin buying frenzy took place and we plan to be in business for years after the bitcoin buying anomaly ends.

Tony Liu

CEO, Ubia

The company was founded in 2010 and for a long time was called JA Energy, however in November 2016 it changed its name to the one that better reflected its involvement in the blockbuster area. UBI states that it uses the block so that its customers can "trace the way food and medicines move from the place of production"

UBI BlockChain Internet Ltd.
UBI BlockChain Internet Ltd.

UBI shares were worth about $ 7.20 on December 8, and on December 18 they traded at $ 87, jumping up against the backdrop of the growth of the crypto-currencies and shares of other blocking companies. At the peak, their price reached $ 115, although in February last year they cost only 55 cents. On Friday, before the freezing of trades, their rate fell to $ 22.

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.