Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA Stablecoin

In recent news pertaining to crypto exchanges, Yobit has announced a random coin pump for Oct. 11, the founder of Okgroup has announced Okcoin USAs plan to launch a stablecoin, and Coinbases chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.

A Bitcoin Rat Is Occupying Wall Street

Skepticism on Twitter over
Aggressive Yobit Campaign

Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming Yobit Pump scheduled for 9 a.m. EDT on Oct. 11. According to Yobits Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.

The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange thats already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.

In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.

Okgroup Founder Vows Full Compliance
with Planned Stablecoin
Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA Stablecoin

Star Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.

In a recent tweet, Mr. Xu posted: Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin. Xu added that the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.

Xu also spoke in favor of stablecoins, stating: Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is its electronic. Today, the amount of cash in Chinas domestic monetary system is not small.

Coinbase Executive Optimistic About Securing Regulatory Approval in Japan Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA Stablecoin

In a recent interview with Nikkei Asian Review, Mike Lempres, the chief pol ...

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Tags: United States, Stablecoin, Coin, Pump, Mike Lempres, Wall Street, Forbes