OKCoin Suspends USD Deposits

Hong Fang, the CEO of crypto exchange OKCoin, has announced that the cryptocurrency exchange has temporarily stopped accepting dollar deposits due to banking sector issues.

He has assured customers that their deposits are safe, and that the situation has not affected the ability to withdraw funds in US dollars.

The platform still allows users to deposit and withdraw euros and digital assets, and trading is continuing as usual.

Fang has said that the team is actively working on alternative solutions, and that they have faced much worse times in the past. Over the last 24 hours, the platform’s utility token has seen an increase in value of 4.3%, according to CoinGecko.