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<p class="is-style-lead">In its 22nd repurchase and burning event on Dec. 14, OKX removed approximately 10.53 million OKB, valued at around $630 million.&nbsp;</p> 
<p>This achievement once again establishes a new high for the platform.</p> 
<h2 class="wp-block-heading" id="repurchased-and-burned">Repurchased and burned</h2> 
<p>The OKB team initiated the 19th phase of its buy-back and burn program from Dec. 1st, 2022, to Feb. 28th, 2023. In this round, a total of 5,183,976.43 OKB, valued at approximately $177 million, calculated at a 90-day average price, was repurchased and burned from the secondary market.&nbsp;</p> 
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 <a href="https://dune.com/sankin/okb-buy-back-and-burn-report" target="_blank" rel="noopener"><img loading="lazy" decoding="async" width="1024" height="435" src="https://crypto.news/app/uploads/2023/12/Screen-Shot-2023-12-14-at-8.06.32-AM-1024x435.png" alt="OKX's OKB repurchase hits record $630m in burning event - 14" class="wp-image-14227631"></a>
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  Buy Back And Burn Report | Source: <a href="https://dune.com/sankin/okb-buy-back-and-burn-report" target="_blank" rel="noopener">Dune Analytics</a>
 </figcaption>
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<p>Launched on May 4, 2019, the OKB’s buy-back and burn program involves OKX repurchasing tokens every three months from the original supply of 300,000,000 OKB, considering market conditions and operational performance.&nbsp;</p> 
<p>These repurchased tokens are then sent to an inaccessible burning address. To date, a total of 58,545,001 OKB has been burned, leaving 241,454,998 OKB in circulation.</p> 
<p>In response to the latest announcement, <a href="https://twitter.com/MR_HUAN86/status/1735218022586183962" target="_blank" rel="noopener">community members</a> were quick to share sentiments such as, “OKX is burning too much money and wants to climb to the top of the market.”</p> 
<p> You might also like: <a href="https://crypto.news/okx-dex-suffers-exploit-resulting-in-over-430k-loss/"> OKX DEX suffers exploit resulting in over $430k loss </a> </p> 
<h2 class="wp-block-heading" id="climbing-to-the-top">Climbing to the top</h2> 
<p>According to the <a href="https://coinmarketcap.com/rankings/exchanges/" target="_blank" rel="noopener">CoinMarketCap Spot Exchanges</a> report, OKX is now in the 4th spot of the largest exchanges.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="What Is OKX? With Pep Guardiola" width="1020" height="574" src="https://www.youtube.com/embed/T5HpPH1AB1s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
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<p>The platform’s growth has since made it a target for hackers, with reports indicating that the exchange had experienced an exploit that led to a loss of <a href="https://crypto.news/okx-dex-suffers-exploit-resulting-in-over-430k-loss/">$430,000 on Dec. 13</a>.</p> 
<p> Read more: <a href="https://crypto.news/opensea-on-back-footing-as-okx-surpasses-it-in-nft-trading-volume/"> OpenSea on back-footing as OKX surpasses it in NFT trading volume </a> </p>

OKX’s OKB repurchase hits record $630m in burning event

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