OKCoin to Suspend XRP Trading and Deposits on January 4

OKCoin said it would cease XRP trading and deposits on its crypto exchange effective January 4, 2021, according to the statement made Monday afternoon.

The stock exchange stated two reference days along the suspension. “At 4:00 AM UTC on January 4th, users of the exchange who have borrowed from the XRP / USD margin pair (including borrowing XRP and USD) must return the borrowed value prior to that time at 3:00 UTC on January 4th . Said the exchange. “Delays trigger a liquidation through our systems in order to complete the loan agreements.”

On January 5th at 3 a.m. UTC, spot trading, margin trading and XRP deposits will be suspended until further notice, according to the exchange.

“It is likely that this situation will take some time to resolve. We will proactively inform our customers when we have information that may change our position, “OKCoin said in the statement.

This story evolves and is updated.

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