Bitcoin is trading below $8000 for the first time in months as OKEx suspended withdrawals and any fiat trading.
CEO Li Shufei resigned on May 14th and has joined the rival crytpo company Huobi on May 18th. OKEx currently has the third largest 24-volume according to CoinMarketCap at $195K.
Bitcoin is fighting a bear market and regulations of ICOs continue to hurt the price. Canadia and US regulators joined to launch Operation Cryptosweep in an attempt to rid the market of those using false marketing and statements to grant fake coins.
Even with Bitcoin dropping, blockchain trials continue to move forward where banks in Norway, Sweden, and Switzerland where digital currencies are still be tested and analyzed. While we continue to ride out the wave, it’ll really test the confidence of some HODLers of Bitcoin.
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