Another Indian Cryptoexchange KoinOK Decides to Exit. But OKEx Focuses on Indian Market

Yesterday morning when I woke up, I got the news of shutting down of Koines crypto exchange Today it was KoinOK.

_{An interesting Tweet image posted by DesiCryptoHodlr asking RBI for who would be its next victim}
Over the course of the year several large and small Indian crypto exchanges have shut their shop. This says volumes about the negative outlook and expectations (or rather hopelessness) of Indian crypto community from Indian government and the courts regarding the approval and regulation of cryptocurrencies in India.

Unfavourable and adverse government rules and policies are a business risk applicable to all businesses but more so in emerging technology and innovations. But these are the testing time for entrepreneurs and only the best of them emerge victorious through these.
As in past, other Exchanges like WazirX, CoinDCX and BitBNS have made lucrative offers to customers of Koinex to move their asset to them.

I wonder why M&A is not a thing in crypto exchange industry. It would help both the Exchanges involved as well as their customers.

Does that mean Balance Sheets of all these Exchanges were shady and they didn't want to open it up for takeover?

Whatever is or was the case, there is always some market value to these businesses which must be better than just biting the dirt!

But global crypto exchanges are still eyeing Indian crypto market. Two of the top-3 global Exchanges by volume, namely Binance & Huobi Global, have already entered the Indian market in the recent past.

OKEx, the other in the list of top-3 list has announced some interest in India today with the launch of this airdrop:
OKEx Airdrop.jpg

OkEx is celebrating the listing of Wirex project on its launchpad called OK-Jumpstart and is offering 1000 USDK (A USD backed stable coin of OKEx, also listed on Bitfinex).

For availing this airdrop, you would need to create an account on OKEx Exchange and give your mobile number there. They will be releasing airdrop links multiple times a day until 1^st July. You just need to go to those links and provide your mobile number as fast as possible to avail the portion of this airdrop. Join their official India Telegram channel and group for further detail on it.

Hope you get some drops from it! :)