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OKCoin exchange has temporarily suspended USD deposits on their platform in response to Signature Bank (NASDAQ:SBNY)'s failure.

CEO Hong Fang has reassured customers that their corporate and customer funds have remained safe.

Crucial functions such as crypto withdrawals and deposits have remained unaffected.Cryptocurrency exchanges have been grappling with the effects of the USDC depeg breakdown caused by Silicon Valley Bank's liquidations. Among them is OKCoin, a well-established cryptocurrency exchange that has halted USD deposits and over-the-counter trading.

OKCoin, a U.S.-based cryptocurrency exchange and affiliate of OKX, has temporarily suspended USD deposits in response to the recent failure of Signature Bank. The CEO of OKCoin and President of OKX, Hong Fang, went to Twitter to share the news.

https://twitter.com/hfangca/status/1635150841912135680Fang has stated that while some services on the exchange...

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