Developments in the cryptocurrency market are not only related to cryptocurrencies. At the same time, important news comes from Bitcoin exchanges and platforms that offer them to traders. We have compiled 3 news items that attracted attention this week for our readers.
Bitcoin exchange OKX experienced a network problem
cryptokoin.comAs you follow from , we are witnessing interesting days in the market. Today, the leading cryptocurrency exchange OKX experienced a problem. Crypto news platform Wu Blockchain reported this situation to its followers. Accordingly, there was a problem with the exchange’s display of users’ balances. Wu Blockchain shared the situation in question with his followers as follows:
Community users reported that the OKX APP, web version and client were unable to display market data and account information, indicating a possible server outage. OKX stated that the team is working to resolve the issue.
Following this development, the cryptocurrency exchange published a statement. OKX explained that the problem was caused by network problems on the servers. He also stated that user funds are safe. In this regard, OKX provided the following information through its X account:
At 12:27 UTC, our OKX platform experienced intermittent outages due to network issues on our servers. We apologize for any inconvenience. The technical team quickly resolved the issue and we resumed normal trading services. You can be sure that your money is safe with us. We understand the importance of the stability of our platform and will work to prevent such incidents from occurring in the future.
Kraken will suspend all USDT, WBTC deposits in Canada
Bitcoin exchange Kraken has announced plans to close all trading, deposits and withdrawals for Tether USD (USDT), Wrapped Bitcoin (WBTC) and other reserve-backed assets in Canada. The suspension comes amid regulatory guidance on the legal status of such tokens. Meanwhile, a similar stablecoin clampdown on other Canadian exchanges followed.
Kraken said in a statement on Friday that it will suspend deposits, withdrawals and trading for Tether (USDT), Dai (DAI), Wrapped Bitcoin (WBTC), Wrapped Ether (WETH) and Wrapped Axelar (WAXL) in Canada. Accordingly, deposit and trading transactions for each coin will end as of 12:00 on November 30. Additionally, withdrawals will end at 11 a.m. on December 4. The Bitcoin exchange will convert these remaining assets on the platform into USD at the prevailing market rate on December 5. “If you have a balance in any of the USDT, DAI, WBTC, WETH or WAXL, we recommend that you consider one of the supported trading pairs or withdraw before November 30,” Kraken stated.
Sense Protococol is leaving the market
DeFi protocol Sense Finance is leaving the market after 18 months of operation, according to a statement made on October 26. Accordingly, the project decided to terminate the Sense Protocol. Additionally, Sense Finance will open source its user interface (UI) for community use. The protocol announced and fixed this decision on account X:
Major Update: After 18 months of work, we have made the decision to discontinue Sense Protocol and open source the user interface for community use. We encourage users to withdraw their remaining funds through the existing Portal user interface by December 1, 2023.
After this date, Sense Finance will stop hosting the interface. It will also open source the code for external, community use. Meanwhile, the Bitcoin protocol stated that users who are eligible for MORPHO token rewards will be able to claim their shares up to Age 7 in a special interface once they become transferrable by Morpho Governance. Continuing, the protocol emphasized that the Sense Core team will cease contributions to current and future versions of the Sense Protocol.
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