OKB current price is $76.74.

OKEx, the 2nd most popular cryptocurrency exchange by trading volume, launched its platform token ‘OKB‘ today with 10 trading pairs. On its official support page, OKEx describes OKB is a global utility token issued by the OK Blockchain Foundation. The total available supply of OKB will be one billion tokens (1,000,000,000), with a distribution model that allocates 60% of the supply will be given out to OKEx customers for community building and during marketing campaigns. According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month.The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years.According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month. The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years.

**OKX Relaunches in the U.S. Following DOJ Settlement: Expanding Horizons for Cryptocurrency Exchange**

In a significant move that marks its return to the United States, cryptocurrency exchange OKX has officially relaunched its platform after a two-month hiatus stemming from a $500 million settlement with the Department of Justice (DOJ). This strategic decision aims to bolster OKX's presence in the highly competitive U.S. market, particularly in an environment that is increasingly governed by regulatory scrutiny.

### A Fresh Start

OKX, the second most popular cryptocurrency exchange by trading volume, is re-entering a landscape that is constantly evolving. The settlement with the DOJ, which was reached earlier this year, highlighted the challenges that cryptocurrency exchanges face, especially in terms of compliance. By addressing past concerns and moving forward, OKX is not only striving to regain trust but is also positioning itself to become a forefront player in the U.S. crypto sector.

### New Offerings: The Launch of OKB Token

In conjunction with its U.S. relaunch, OKX has unveiled its new platform token, OKB, with an initial offering of 10 trading pairs. Described as a global utility token issued by the OK Blockchain Foundation, OKB is set to become a cornerstone of OKX's community engagement and market offerings.

#### Token Distribution and Specifications

The total supply of OKB is capped at one billion tokens (1,000,000,000), with a noteworthy distribution model aimed at community building. Approximately 600 million tokens-60% of the total supply-will be distributed to OKX customers through various initiatives, including marketing campaigns. This approach is designed to incentivize user engagement and foster loyalty within the OKX community.

Importantly, the company has clarified that OKB was initially issued on the ERC20 protocol earlier this month. Distancing itself from traditional fundraising methods, OKX has explicitly denied any ICO (Initial Coin Offering) or public fundraising for the token. Looking ahead, the company plans to migrate the OKB token to its proprietary OK Chain, expanding its applicability beyond just the OKX trading platform to include other related projects.

#### Lock-Up Period

In a strategic move to ensure stability, the remaining 400 million tokens will be locked for a period of one to three years, protecting the token's value and addressing concerns about market volatility that can arise from sudden releases of supply. This approach is expected to sustain a balanced ecosystem, benefiting both the platform and its users in the long run.

### Navigating Regulatory Waters

The decision to relaunch in the U.S. comes at a time when regulatory scrutiny on cryptocurrency exchanges is intensifying. OKX's proactive steps reflect an understanding of the importance of compliance and cooperation with regulatory authorities. The settlement with the DOJ underscores the challenges that exchanges must navigate to ensure robust operations.

In response to these pressures, OKX is not only looking to provide a secure trading space but is also investing in transparency and communication with users. By focusing on community engagement and utility through the OKB token, the exchange aims to cultivate a strong user base while adhering to regulatory requirements.

### Conclusion

The relaunch of OKX in the U.S., accompanied by the launch of the OKB utility token, is a calculated step towards reclaiming its market position after facing significant challenges. With a commitment to community-building and regulatory compliance, OKX is poised to make a meaningful impact in the U.S. crypto exchange landscape. As the company moves forward, the resilience shown in its recent proceedings may indeed set a precedent for other exchanges as they navigate the complexities of the evolving regulatory environment.

For more details on this significant relaunch, visit [the Bitcoin Street Journal](https://thebitcoinstreetjournal.com/crypto-exchange-okx-relaunches-in-u-s-two-months-after-settling-with-doj-for-500-million/).