Bitfinex Investor Raising $21 Million for Binance-Style Exchange Cryptocurrency
OTC trader Dong Zhao's crypto lending startup has lined up $21 million in commitments for a BNB-like token sale.
Exchange Tokens
Centralized exchange tokens have been skyrocketing this year, but there is one problem behind the astonishing performance: They are becoming more like equity.
OKB is trading just above $4, down from nearly $6 before the news.
The token has rallied nearly 13% Wednesday.
It’s surprising that, despite the success of their issuers, exchange tokens have not been more successful as investments, or as metrics of adoption in one of crypto assets' best-proven use cases, speculation.
"Basically, we're trying to get people away from custodial exchanges," said ShapeShift CEO Erik Voorhees.
