BTC$9,133 ETH$233 LTC$41.98 XRP$0.19 BCH$223 XMR$67.4 DASH$69 EOS$2.49 ZEC$58 ADA$0.120 NEO$10.52 BNB$17 XLM$0.102 U Cryptocurrency Exchange OKEx Lists Polkadot’s DOT Token The exchange also plans to launch additional trading pairs in the near future.

Cryptocurrency Exchange OKEx Lists Polkadot’s DOT TokenNEWS OKEx has listed the native token of Polkadot (DOT) on its trading platform.

According to an announcement shared with Cointelegraph on July 17, DOT spot trading against Tether’s USDT stablecoin on OKEx started at 8:00 AM UTC today. As Cointelegraph recently reported, Pokadot’s technology allows developers to spin up a new blockchain within one hour.

Per the announcement, DOT deposits and withdrawals aren’t supported yet, and the tokens can currently only be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx also recently published a detailed guide on how to claim the Ethereum-based ERC20 DOT tokens to Polkadot’s mainnet in a way that makes them available on the exchange.

OKEx announced no date for the launch of DOT withdrawals and deposits. Still, the exchange promised they will be launched alongside additional DOT trading pairs in the near future.

Bringing interoperability to blockchains The announcement explains that Polkadot is the first project of Switzerland-based Web3 Foundation, and it aims “to connect private and consortium blockchains, public and permissionless networks, oracles, and even future technologies that are yet to be created.” OKEx CEO Jay Hao explained that such a system is much needed in the ecosystem:

“One of blockchain’s biggest issues still remains interoperability and Polkadot will play a key role in allowing all kinds of blockchains to talk to each other, transact, and exchange data. Since Polkadot allows for cross-blockchain transfer of all types of data and not just tokens, it will hold an important role in the crypto ecosystem preparing for the next web.”

Hao also said that while he does not expect us to move to a decentralized web overnight, he believes “we will start seeing more and more decentralized applications.” Furthermore, he expects that cryptocurrency will play a big role in this future internet. He explained:

“As societies move away from cash and real-world assets are eventually brought onto the blockchain like stocks, gold, real estate, etc. crypto will be used more and more as a simple way of transferring value to any device and more projects like Polkadot will allow us to transfer all types of data securely and trustlessly greatly speeding up the current bureaucracy we live with today.”

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William Suberg WILLIAM SUBERG 29 MINUTES AGO Bitcoin Mining Firm Northern Data Slams ‘Trolls’ After Stock Drops 40% Northern Data’s head of finance calls whistleblowers “anonymous trolls” and says that the company is completely transparent.

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2:59 Bitcoin Mining Firm Northern Data Slams ‘Trolls’ After Stock Drops 40%MARKETS NEWS European Bitcoin (BTC) mining firm Northern Data has seen its stock fall 40% in days amid claims that it committed fraud.

Data from Bloomberg showed the company’s NB2 stock trading at under €47 ($53.70) at the end of July 17, down from €79 ($90.30) on Monday.

Northern Data: “We’re as transparent as it gets” Northern Data, the product of a 2019 merger between U.S. company Whinstone and Northern Bitcoin, claimed to offer High Performance Computing/Artificial Intelligence (HPC/AI) solutions.

While touting the scale of its computing capacity to investors and analysts, including well-known German bank researchers, one critic in particular argued that in fact, the company was mostly involved in Bitcoin mining hosting.

For well-known investigative Twitter user BTCKING555, suspicions arose when Northern Data failed to respond to basic questions about its business.

Thereafter, a Medium post delivered a longer exposé, after which Northern Data hit mainstream media and its share price tumbled.

“It’s a very unpleasant point in time,” Maximilian Martin, head of finance at Northern Data, commented to the Financial Times.

“It gives the anonymous trolls a power of influence. I’m not concerned because I know we’re no criminals — that’s the biggest point of differentiation. We’re as transparent as it gets.”

Northern Data share price 1-month chart

Northern Data share price 1-month chart. Source: Bloomberg

Keeping the faith after Wirecard The Medium post disagrees. Taking issue with everything from revenue to pricing, it also casts doubt on the legitimacy of those who invested in the company itself, among them well-known crypto companies SBI Holdings and The Block.

It summarized:

“As such we make a conclusion:

1) Northern Data clients are paying lower, industry competitive, rates and the company is cooking the books;

or

2) The company has found the dumbest customers in the crypto industry and milking the most it can for its whopping 40% gross margin.”

The debacle is grimly pertinent, coming within weeks of another German scandal involving financial firm Wirecard.

After $2 billion went unaccounted for, the company folded, with the knock-on effects impacting consumers worldwide.

Any funds tied to Wirecard, such as those on prepaid debit cards, were suddenly frozen, leaving users without their money. As Cointelegraph reported, Bitcoin debit cards were also affected.

Before its own difficulties, Northern Data was another example of cryptocurrency business equity vastly outperforming cryptoassets themselves — often thanks to roadmaps that include plans such as conducting an initial public offering, or an IPO.

Other firms such as Canaan (NASDAQ:CAN) have not fared as well, however, with its stock price down nearly 70% YTD or from around $6 to $1.92 at press time.

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