JP Mullin urged OM token holders to withdraw from OKX, alleging the exchange had not communicated with Mantra about the incoming token migration, resulting in inaccurate dates. Tensions between blockchain platform Mantra and crypto exchange OKX are rising after Mantra accused the exchange of posting incorrect information about its token migration. In a Monday X post, Mantra CEO John Patrick Mullin urged users of centralized cryptocurrency exchange (CEX) OKX to withdraw their Mantra (OM) tokens and cut their “dependency” on the platform. “Users should consider withdrawing their OM tokens from OKX[...]. Avoid OKX Exchange Dependency: Complete migration without relying on potentially negligent or malicious intermediaries,” said Mullin. Read more
Many analysts say BTC’s rebound is a bull trap, warning its price could fall to as low as $40,000 over the coming months. Bitcoin (BTC) climbed 14.50% from its recent lows of $80,600, inching back toward $93,000 as traders were at odds between a “comeback” by the bulls or the start of a bear market. Key takeaways: Analysts say Bitcoin’s rebound is a bull trap, with risks extending to as low as $40,000. Read more
Binance suspended an employee and alerted authorities after an internal probe found the staffer allegedly used insider information to publish a post from an official account. Binance said on Monday it had launched an internal investigation Sunday into an employee it suspected of abusing access to inside information by posting from an official Binance Futures social media account for personal gain. The exchange said in an X post that its audit team received a report alleging the employee used non‑public information to craft a post on the official Binance Futures X account “less than a minute” after the token was issued onchain. The employee in question was immediately suspended, and Binance said it has contacted authorities in the jurisdiction where the employee is based to pursue potential legal action. Read more
Argentina’s central bank is reportedly considering whether to allow traditional financial institutions to offer crypto services, marking the potential lifting of a ban. Argentina is considering allowing local financial institutions to engage more directly with cryptocurrencies in a move that would mark a significant shift from its restrictive stance, according to local media report. According to a Friday report by local news outlet La Nacion, Banco Central de la República Argentina (BCRA), Argentina’s central bank, is considering allowing traditional banks to trade cryptocurrencies. The story cited “sources close to the organization.” Cointelegraph has not independently verified those claims. The BCRA stepped in to ban financial institutions from offering crypto trading just days after two of the country’s largest banks signaled they were opening up to digital assets in May 2022. The BCRA said that such initiatives posed risks to users and “to the financial system as a whole.” Read more