A renewed conflict between Star Xu, founder of OKX, and Changpeng “CZ” Zhao, founder of Binance, erupted recently as Xu accused Zhao of being a “habitual liar.” The dispute, which has its roots in allegations from over a decade ago, has gained attention following the release of Zhao’s memoir.
The tension between the two figures dates back to Zhao’s brief involvement with OKCoin, a platform established by Xu. In 2015, Zhao faced accusations of misconduct and misleading statements related to a contract dispute involving Roger Ver. Zhao has consistently denied these claims.
This latest confrontation follows a public disagreement in January, where Xu attributed the significant cryptocurrency market crash on October 10, 2022, to Binance-related activities. Zhao and other market participants have disputed Xu’s assertions regarding the crash.
Xu’s recent comments were prompted by Zhao’s memoir, which he claims reignited the discussion around their past issues. “I had no intention of revisiting these old issues involving CZ, but since I’ve been dragged into this again because of the book, let’s restate the facts,” Xu stated.
“Out of the blue, Star [Xu] said that I had somehow forged a contract when working there [at OKCoin],” Zhao wrote in his memoir. “In May 2015, I got annoyed and made a public post on Reddit, obviously denying forging any contracts… while I was at it, I detailed a few problems I saw at OKCoin.”
In his recent posts, Xu referenced a video he claims demonstrates discrepancies in contract versions, reiterating that Zhao misled the public regarding the situation. He remarked, “After spending four months in prison, he continues to make false statements to the world,” adding that “a habitual liar never changes their nature.”
The dispute intensified when Xu questioned Zhao’s marital status, referencing prior reports that described Zhao’s spouse as his “wife” in a legal context. Xu challenged Zhao to provide a divorce agreement, stating he would apologize if such documentation could be produced.
Zhao responded by asserting that he is “officially divorced” and proposed a wager of $1 billion—or any amount Xu preferred—to verify the finalization of the divorce, suggesting that legal representatives could confirm the agreement. However, he declined to release any documents.
Xu rejected the bet, citing regulatory compliance issues related to operating a regulated exchange. Instead, he pressed Zhao on whether his stake in Binance had been legally separated as part of any divorce proceedings.
In response, Zhao dismissed Xu’s inquiries, stating that his Binance stake was “none of your business” and accused Xu of trying to divert attention from the core issues.
This ongoing feud highlights the contentious relationships within the cryptocurrency industry, where personal and professional disputes can quickly escalate into public confrontations.
The public dispute between Star Xu and Changpeng Zhao has reignited long-standing allegations from their past interactions. As both founders of major crypto exchanges exchange accusations, the incident underscores the contentious dynamics in the cryptocurrency sector.