OKX announced today that it will transfer $157 million in frozen assets to affiliates of FTX and Alameda in response to the filing of the FTX bankruptcy filing. The frozen assets reportedly include cryptocurrencies such as Bitcoin, Ethereum, and various altcoins, though OKX itself has not mentioned the tokens. These funds had been frozen for some time following the FTX disagreement.
There have been rumors and speculations that OKX is involved in market manipulation and other unethical practices in the cryptocurrency market. However, following his FTX saga in November 2022, OKX has taken the initiative to explore his FTX-related trading potential on the network. After discovering FTX and Alameda Research during these investigations, OKX acted quickly to freeze accounts and protect assets associated with them. OKX responded by denying any wrongdoing and filing a counterclaim against FTX and Alameda.
In an unexpected move, OKX has declared that he will hand over the frozen assets to companies affiliated with FTX and Alameda.
OKX is pleased with this result and underscores its commitment to transparency and fairness in the cryptocurrency market.
An OKX spokesperson said, “We are pleased to have resolved this dispute fairly and equitably for all parties involved. We are committed to maintaining the highest standards of integrity and transparency in our work. We continue to work and look forward to continuing to provide our customers with the best possible service.”
The FTX process is ongoing and new information is released regularly. Several companies have been affected since the FTX demise, and several others are finding ways to return to full operation. I don’t know what else to expect from the FTX saga.
