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OKCoin Exchange Closes Its Beijing Office

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Mon, 06/28/2021 - 14:57
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Antony Koroid
Users dispute the statement isn’t based on reliable sources
OKCoin Exchange Closes Its Beijing Office
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The Beijing company of the Chinese OKCoin exchange will cease its work on June 24. Chinese journalist Colin Wu announced the company's dissolution on his Twitter page.

Colin Wu’s Twitter subscribers noted Bitcoin will also ‘exclude’ China with its ‘communist ideology’ and ‘lack of freedom’.

At the same time, some observers suggested Wu's statement, not supported by references to sources, is nothing more than manipulation by the fear, uncertainty, and doubt (FUD) principle.

Until 2017, the Beijing office, which is currently in liquidation, was the exchange’s head company.

OKCoin was founded in 2013. The company has attracted $10 million of investments from Ceyuan Ventures, Mantra Capital, Ventures Lab, and other well-known private investors, including Silicon Valley’s famous Tim Draper.

From December 2014 to May 2015, OKCoin managed the domain bitcoin.com, the rights to which have long been disputed by the cryptocurrency investor Roger Ver.

In 2016-2017, OKCoin was the world-leading Bitcoin exchange with a turnover of more than 16,000,000 BTC per month.

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About the author

The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.