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'Only in Crypto': What the OKEx Mess Says About New and Old Finance

On Friday morning, as the OKEx withdrawal-freeze story twisted and turned, CoinDesk's editors had an off-the-cuff discussion about the fundamental realities and unique challenges of security for even the largest exchanges.

Updated Sep 14, 2021, 10:11 a.m. Published Oct 17, 2020, 2:00 p.m.
People inside a bank vault, Los Angeles, California, 1950s.
People inside a bank vault, Los Angeles, California, 1950s.

When will we ever learn? Not your keys? Not your coins.

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On Friday morning, as the OKEx withdrawal-freeze story twisted and turned, CoinDesk's editors had an off-the-cuff discussion about the fundamental realities and unique challenges of security for even the largest exchanges.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

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  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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Combined with softer than expected October data, this morning's numbers point to at least a modestly weaker jobs market as the economy heads into the end of the year.

What to know:

  • The U.S. added 64,000 jobs in November, while the unemployment rate rose to 4.6%.
  • As for October, employment fell by 105,000 versus 119,000 jobs added in September.
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