tl;dr
It’s all mostly doom and gloom around the crypto sphere, but it is what it is, and we stay focused on the long-term.
Market Snap
Market Wrap
Though the popular press jumps on the crypto bashing bandwagon at every available opportunity – and it’s true that investors’ concerns about the health or otherwise of Binance are not entirely unjustified – the one-month price action for BNB (Binance Coin with its very own blockchain) suggests that the FUD is somewhat overdone:
Curious Cryptos’ Commentary — The next domino
OKEx.com – a centralised cryptocurrency exchange – has been reported as stopping withdrawals.
This is not an exchange I am particularly familiar with.
My first involvement was to transfer SBTC (Super Bitcoin) from cold storage to swap for ETH. The SBTC I owned was a freebie I was given during the BTC hard-fork mania of 2017/2018, and OKEx.com was the only viable route to monetise this windfall.
I also bought some Kishu Inu at the start of the dog-themed meme coin nonsense, and I also tried (unsuccessfully as it turns out) to sell some BABYDOGE through this platform.
The residual coins I have left on OKEx.com - now rebranded to OKX.com though I am not entirely convinced that the likely six figures of expenditure paid to a marketing consultant for this tiny change in the name was the wisest business decision ever made - are valued at less than $20.
So, I am relaxed from a personal perspective if OKEx.com joins the ranks of other failed crypto ventures.
But if another exchange bites the dust, the crypto winter will continue for longer than otherwise.