Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today,OKEx liquidates trader's position triggering insurance fund and socialized clawback clause.
The futures trading platform began liquidating a US$400 million long position that had fallen out of the money. The company contacted the user to pare back the exposure unsuccessful. As a result of the liquidation, the losses incurred will be covered by both the insurance fund and other users.
The SEC has been questioning brokers that deal in digital assets for comment on business practices and procedures for client interactions. The regulatory body is also looking for a better understanding of the fees generated from trading, financing and initial coin offerings.
The FSS has investigated the use of blockchain technologies by international stock exchange operators and advised local regulatory agencies to develop a similar solution. The FSS believes a blockchain system will increase the efficiency, integrity, and security of information transfer.
The retailer has extended its list of patents with the addition of a method for managing smart applications. One use outlined in the application is a kiosk for receiving drone-delivered packages.
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