OKEx contributes US$4.5 million to strengthen cryptocurrency trading confidence

KUALA LUMPUR, July 25 (Bernama) -- OKEx has donated Bitcoin worth US$4.5 million to its perpetual swap market insurance fund to boost customer confidence in trading cryptocurrencies. (US$1=RM4.12)

In a statement, the world’s leading cryptocurrency exchange said the donation would provide an extra layer of protection to the customers, further ensuring that all customer interests were safeguarded.

OKEx Operations head, Andy Cheung said no clawback occurred on OKEx perpetual swap since its launch.

“We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximising trader benefits.”

OKEx’s world-leading crypto marketplace serves millions of users globally, offering hedging and arbitrage instruments, such as futures and perpetual swaps, to help traders optimise their trading strategies.

With a comprehensive security system, no major security issues, hacks and asset losses have ever taken place on OKEx.

-- BERNAMA