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OKEx Puts $4.5 Million to Foster Crypto Derivative Market To Support Buffett’s Power Lunch

Crypto magnates are getting together for the Power Lunch, a charitable luncheon with legendary Wall Street investor Warren Buffett, on July 25, 2019, so as to bridge between the blockchain leaders and traditional investors and explore opportunities in digital assets. In support of such initiative, OKEx decided to put $4.5 million, equivalent to the cost of the luncheon, to foster the digital asset market.

OKEx announced to inject $4.5 million-worth Bitcoin to the insurance fund for its perpetual swap market. As one of the world’s most active and liquid crypto derivative trading platforms, the OKEx perpetual swap market is safeguarded by the insurance fund in case margin call losses and clawbacks take place.

“The Power Lunch is a significant leap promoting blockchain and digital assets to legacy finance and Wall Street. We truly appreciate our peers’ efforts in bolstering token economy,” said Andy Cheung, Head of Operations of OKEx. “We would also like to support the blockchain technology development in our own way and, at the same time, put our customers first. That’s why we decided to place our resources to where our customers can directly benefit.”

OKEx’s world-leading crypto derivative marketplace serves millions of users globally, offering hedging and arbitrage instruments, such as futures and perpetual swap, to help traders optimize their trading strategies. Until now, no major security issues, hacks, and asset losses have taken place on OKEx.

“Customer satisfaction is the core of our service. The key to delivering the best user experience to our customers is security,” added Andy Cheung. “Our founding members and executives are all tech and internet experts with solid background. This allows us to lead the tide in product and technology development. We, as believers in Bitcoin and blockchain, are looking forward to bringing more positive changes to the existing financial system with our technologies.”

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