Good morning Bitcoin: Withdrawal suspended OKx hours

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Registrations on OKX are halted for several hours due to issues with Alibaba

I was unable to withdraw bitcoin from OKX for several hours yesterday due to issues with Alibaba. OKX uses Alibaba’s cloud servers and those layers were out there. Both withdrawals and deposits are not possible on the exchange.

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Alibaba mentions The bug has now been discovered and the company’s engineers are working on a fix. OKX announces via Twitter that the funds are definitely safe on the platform. For a moment there was fear that OKX would become the successor to FTX.

After all, it is usually not a good sign if a stock exchange platform stops registering. However, there is now a clear fault with the external service provider, so this is not the result of financial problems at OKX.

Jerome Powell didn’t foresee a recession for America

If it’s up to Federal Reserve Chairman Jerome Powell, things aren’t looking bad in America’s so-called recession. In its forecasts for the economy in the coming months, the Federal Reserve is clearly not in the recession camp. President Powell expects the country to maintain even “reasonable” growth.

“I don’t think it deserves a recession,” Powell said of the U.S. economy’s growth and rising unemployment, which the Fed chief also thinks is not too bad. We can’t talk enough about the exciting outlook for the U.S. economy yet.

The economy is expected to grow by half a percent next year and unemployment will increase by 1.6 million people through December 2023. The recession may be better than expected next year or there may be no recession at all, but that chance seems small.

Sam Bankman-Fried is ready to hand over

Sam Bankman-Fried (SBF) will no longer challenge extradition to the United States in a court in the Bahamas. The former boss of the FTX crypto exchange has now been jailed on the island for four days. which reports Reuters news agency based on sources close to the case.

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The 30-year-old American is accused of using hundreds of millions of dollars to pay off debt and speculate through his crypto hedge fund Alameda Research LLC. Other charges include money laundering and illegal financing of political campaigns. SBF is a major donor to the Democratic Party and current President Joe Biden.