In the fast-evolving world of digital assets, market movements often trigger speculation and misinformation. Recently, significant price volatility in Tether (USDT) sparked widespread rumors across social media and trading communities. One particularly persistent claim linked CollinStar Capital and prominent crypto figure Ryan Xu—widely known as "Mars Person"—to a coordinated short-selling scheme involving USDT and Gemini Dollar (GUSD). In response, CollinStar Capital has issued an official statement to clarify its position and dispel false narratives.
This article provides a clear, accurate breakdown of the situation, outlines key developments from major cryptocurrency exchanges, and addresses common concerns surrounding market integrity and investor protection.
CollinStar Capital Denies Involvement in USDT Market Manipulation
Amid rising market uncertainty, unverified claims began circulating online suggesting that CollinStar Capital, in collaboration with GUSD issuers, orchestrated a bearish move against USDT. These rumors further alleged that Ryan Xu, a well-known trader and market commentator, took large long positions in USDT during the dip—painting a misleading picture of insider coordination.
The firm has categorically denied any involvement:
“CollinStar Capital strongly condemns these baseless rumors. This incident has no connection whatsoever to CollinStar Capital or Ryan Xu. We do not tolerate malicious speculation or unfounded attacks on our reputation. A formal statement is hereby issued to set the record straight.”
The company emphasized that it is actively investigating the origin of the misinformation and reserves the right to pursue legal action against individuals or groups responsible for spreading false narratives.
Such incidents highlight the importance of due diligence and critical thinking in decentralized finance spaces where information spreads rapidly but verification lags behind.
Key Exchange Updates: Binance, Zaif, FCoin & More
While the market digests the fallout from misinformation, several leading exchanges have moved forward with operational updates, token listings, and user-focused improvements.
Binance Completes Fifth Quarterly BNB Burn
As part of its deflationary token model, Binance successfully executed its fifth quarterly BNB burn. A total of 1,643,986 BNB was permanently removed from circulation, reinforcing confidence in BNB’s long-term value accrual mechanism.
This event aligns with Binance’s commitment to reduce the maximum supply of BNB to 100 million tokens through regular burns based on platform trading volume.
Zaif Suspends Mobile App, Refunds MONA Purchase Funds
Japanese exchange Zaif announced the suspension of its iOS and Android applications effective 15:00 JST. The decision follows a previous security breach that resulted in unauthorized access to user funds.
Additionally:
- MONA trading and transactions are currently halted.
- The planned MONA Foundation acquisition (originally scheduled for October 10–November 9) has been paused.
- All pre-purchase amounts for MONA in October will be refunded in JPY directly to users’ account balances.
These measures aim to protect investors while the platform strengthens its security infrastructure.
FCoin Opens Recharge Channels for 13 New Tokens
FCoin has expanded its deposit support to include multiple emerging blockchain assets:
- AirSwap (AST)
- INS Ecosystem (INS)
- RCN (RCN)
- Agrello (DLT)
- OAX (OAX)
- Enigma (ENG)
- Eidoo (EDO)
- Viberate (VIB)
- Monetha (MTH)
- Blox (CDT)
- Metal (MTL)
- ShowHand (HAND)
- CITY (CITY)
- Noah Coin (NOAH)
Trading markets for these tokens will go live soon, with official announcements to follow.
ANBI Launches USDT Deposit Incentive Campaign
From now until October 31, 2018, ANBI Exchange is running a deposit rebate program:
- 0.5% reward for cumulative deposits between 100–1,000 USDT
- 1% reward for deposits between 1,000–2,000 USDT
- 1.5% reward for deposits exceeding 2,000 USDT
To qualify, users must complete KYC verification and execute at least one trade of 100 USDT.
Programs like this aim to boost liquidity and encourage responsible participation in digital asset markets.
BKEX Lists Chainlink (LINK) with Immediate Trading Access
BKEX officially listed Chainlink (LINK) today at 14:00 UTC. The exchange now supports:
- LINK/USDT
- LINK/ETH
Recharge and withdrawal functions are live, allowing immediate access to this rapidly growing decentralized oracle network.
Chainlink continues to gain traction as a critical infrastructure layer in DeFi applications.
DragonEx Enables RSTR (Ondori) Deposits
Starting at 11:00 Singapore time on October 17, DragonEx opened recharge functionality for RSTR (Ondori)—a token associated with a blockchain-based entertainment ecosystem focused on fan engagement and digital content distribution.
ZB.com Restores LBTC, BTH, and XTZ Withdrawal Services
ZB.com resumed several key services:
- LBTC deposits and withdrawals restored at 11:22 on October 17
- BTH deposit function reactivated
- XTZ withdrawals now available
These restorations indicate ongoing recovery efforts following technical maintenance or upgrades.
ZG.COM Launches BTC Trading Pair
At 16:00 on October 17, ZG.COM launched the BTC/CNZ trading pair. Users can now trade Bitcoin against CNZ, a stable digital asset pegged to the Chinese yuan.
Notable features:
- BTC deposits already supported
- Fixed withdrawal fee: 0.0005 BTC per transaction
This expansion enhances cross-border trading capabilities and offers users more flexibility in managing their portfolios.
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Frequently Asked Questions (FAQ)
Q: Is there any truth to the claim that CollinStar Capital manipulated USDT prices?
A: No. CollinStar Capital has officially denied any involvement in USDT-related market activities. The claims are described as baseless rumors, and the firm is pursuing legal action against those spreading false information.
Q: Why did Zaif suspend its mobile app?
A: Zaif suspended its iOS and Android apps following a prior security incident involving stolen funds. The shutdown allows the team to enhance system security and protect user assets during recovery.
Q: What is the significance of Binance’s BNB burn?
A: The quarterly BNB burn reduces the total supply of BNB over time, increasing scarcity. This deflationary mechanism aims to increase long-term value for holders and align incentives across the Binance ecosystem.
Q: Can I still deposit BTC on ZG.COM before trading starts?
A: Yes. ZG.COM enabled BTC deposits ahead of the BTC/CNZ trading pair launch, allowing users to prepare their wallets in advance.
Q: How does ANBI’s deposit reward program work?
A: Users earn rebates based on total USDT deposited: 0.5%, 1%, or 1.5%. To qualify, they must complete identity verification and make at least one 100 USDT trade.
Q: When was LINK listed on BKEX?
A: BKEX listed Chainlink (LINK) on October 17 at 14:00 UTC, supporting both recharge and trading via LINK/USDT and LINK/ETH pairs.
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