The OKEx debacle shows us that exchanges are dropping the ball when it comes to preventative risk management, helping the case for regulated Bitcoin futures and exchange-traded funds (ETF). Ask for forgiveness later, not permission now. This seems the defining mantra for most cryptocurrency exchanges. Hong Kong-based Bitcoin exchange, OKEx, is no exception to the rule. On August 3rd, the company’s failure to manage a $416 million trade, led to a $9 million clawback. They activatedRead MoreThe post OKEx Clawback Debacle Helps Case for a Regulated Bitcoin ETF appeared first on Bitcoinist.com.
