The giant Bitcoin exchange has announced that it will delist the USD-linked stablecoin GUSD, issued by the Gemini exchange.
Delist decision of the Bitcoin exchange
OKX, one of the leading Bitcoin exchanges, has decided to delist Gemini Dollar (GUSD). In the statement made by Borsa İstanbul, “The performance of all listed projects is constantly monitored and their listing qualifications are regularly reviewed. However, we are delisting GUSD based on user feedback and the OKX Token Delisting Guide.” it was said.
In the statement, it was stated that GUSD will be removed from the platform as of February 1, 11.00 CET, and the OKX Convert feature will not be available for GUSD products. However, GUSD is a US dollar-pegged stablecoin issued by cryptocurrency exchange Gemini. Gemini is accused of failing to return the $900 million in customer assets it placed under its control of the recently bankrupt Genesis.
This situation between the two companies has also turned into a polemic among company executives. The US Securities and Exchange Commission (SEC) has filed lawsuits against both Genesis and Gemini for selling unregistered securities. However, after OKX’s delisting decision, the GUSD value declined below $1. This stablecoin cryptocoin.com As we mentioned, it is traded at $ 0.9872. In addition, the amount of GUSD in circulation is over 600 million.
OKX Ventures predicts resurgence of crypto innovations
OKX Ventures, the investment arm of leading global cryptocurrency trading platform OKX, has released its Crypto Investment Outlook 2023 Report. The report provides insights into what can be expected in space in 2023, based on proprietary and third-party data.
Ethereum’s transition from Proof of Work to Proof of Stake will result in a 99% reduction in energy consumption, while the ETH consolidation will offer improved scalability, security and eco-friendly solutions. It is an attractive prospect for new and existing developers who want to bypass these benefits. Danksharding is expected to increase TPS to 100k+ after the Shanghai Upgrade.
The Web 2.5 space will see steady growth, according to the company. Traditional brands, internet companies, and KOLs have been successful enough in the Web3 space for Web 2.5 applications to attract a number of new users to the crypto industry. With low-threshold wallets, improved Web3 experiences, easier access to DApps, the introduction of secure, shared open source solutions, and many more innovations on the way, we will begin to see a more user-friendly environment for crypto beginners to explore the Web3.
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