In China arrested the owner of the crypto currency exchange OKEx. How did it affect the stock market?
Source:According to local news publications , founder of the second crypto currency exchange OKEx Old Xu was under arrest. The businessman was suspected of fraudulent activities of some investors, the company WFEE. About it writes .
theHow to punish cheaters with cryptocurrencies
At the moment, Xu is at the Shanghai police station. The proceedings with the businessman ended on a positive note — this will be released in a day. Against him had not found sufficient evidence for criminal prosecution.
It All started with investors WFEE Coin. They filed a complaint against Xu in the police. Some suspected the company WFEE fraudulent activity, and since Xu is the holder of a significant stake in a startup, he also fell under the distribution.
However, investigators found no connection between the Shanghai business projects sue and WFEE. Owner OKEx clean before the law, and charges investors found unreasonable. It is noteworthy that news of the arrest came almost immediately after a substantial increase in trading volumes on the exchange.
Xu's Arrest did not cause serious impact to the stock market in comparison with news about Goldman Sachs. Daily volumes on OKEx decreased by only three percent. It seems that the market has already Mature enough to ignore such a reason.
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