Crypto exchange OKEx native's token (OKB) has increased by 18.88% over the last 24 hours to $5.72 (at 11:08 CET) after the news that its founder, Star Xu, has been released.
Xu's alleged arrest was released to the media in October. At that time, the altcoin was trading above $6, however, the news caused its price to drop quickly to $4. Now the price of the token is returning to previous levels.
According to Chinese journalist Colin Wu, Xu "has gained some freedom." OKEx denies claims that its founder is being investigated for money laundering.
Wu also claims it is still unknown when the exchange will resume withdrawals:
"This may bring a little bit of optimism in the investigation storm sweeping the Chinese crypto industry."
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