Binance founder Changpeng Chao (CZ) informed OKX founder Star Xu, “I am completely happy to wager $1 billion,” and “I am formally divorced.”
It escalated rapidly.
This week, the feud between Binance and OKX reached its core with one of many largest peer-to-peer bets ever supplied publicly.
As if betting wasn’t ostensibly fascinating sufficient, Xu’s response is that whereas playing is not authorized for residents of the United Arab Emirates, polygamy is.
For context, CZ labored at Xu’s cryptocurrency change OKCoin, However left in a contested scenario Earlier than creating Binance. Since then, the 2 exchanges have grow to be fierce rivals, with common public battles over listings and numerous market practices.
CZ left OKCoin in early 2015 after Xu tried to renegotiate his stake. OKCoin’s 2015 Reddit assertion accused CZ of not offering the code, operating his personal buying and selling bots on the corporate’s techniques, and launching a marketing campaign of “lies and determined nonsense” after leaving the corporate.
CZ’s memoir characterizes his departure extra vaguely as a conflict of visions.
What occurred that escalated their disagreement to a billion {dollars}, anyway?
CZ’s memoir exposes years of soiled laundry
When CZ revealed a guide freedom of cash On April 8, Mr. Xu referred to as him a “recurring liar.” Among the many many accusations, Mr. Xu claimed that CZ lied about his marital standing.
CZ doubles down and calls Xu’s wager, pushing in his $1 billion chip.
Xu additionally claimed that CZ revealed lies about his historical past at OKCoin, his contract dispute with Roger Ver, his alleged crypto market manipulation, and whether or not he was a authorities informant towards Justin Solar.
Fed up, Mr. CZ requested Mr. Xu, “You possibly can apologize now.” He supplied “$1 billion (or no matter quantity you select)” and gave Xu 24 hours to simply accept.
In line with CZ’s characterization, a refusal would “clearly reveal who has misrepresented the general public.”
Mr. Xu declined, citing skilled obligations in addition to the illegality of playing in his nation of residence.
“Publicly providing to wager $1 billion as the last word beneficiary of a regulated firm is just unprofessional conduct,” he mentioned.
Yi He backs up CZ
Mr. Xu requested particulars about Mr. CZ’s largest supply of non-public wealth. “Are your Binance shares legally separated out of your ex-wife?”
Yi He, the mom of CZ’s kids and apparently concerned within the controversy, has not remained silent on social media. In 2014, after assembly CZ at a blockchain occasion, Yi helped CZ be a part of OKCoin as chief know-how officer.
Quickly, they turned romantically concerned.
Yesterday, she promoted Binance’s on-chain prediction market, asking customers to wager on whether or not Xu will publicly apologize to CZ.
She provoked Xu into combating.
Let’s take a look at it primarily based on possibilities:
“Will Star apologize to CZ?” https://t.co/mBdeGNCwaB— Yi He (@heyibinance) April 9, 2026
CZ claims Star Xu had Leon Li arrested
Essentially the most explosive new allegations within the memoir concern Huobi (now HTX) founder Leon Li.
CZ wrote in his guide that Xu (utilizing star star Xu’s actual title Minxin) reported Li to Chinese language police, and Li was detained in November 2020.
Mr. Xu referred to as the declare “utterly false info.”
This discrepancy is one other instance of the CZ vs. Xu battle.
Particulars at concern within the OKCoin contract
This week, Mr. Xu resurfaced a 2015 video exhibiting an OKCoin accountant’s QQ account allegedly accessed within the presence of a notary public.
In a video in its QQ account, CZ seems to be submitting two variations of the Bitcoin.com area settlement. This video first exhibits model 7, then a modified model 8 with a six-month termination clause that model 7 does not have.
CZ beforehand believed the chat recordings had been the results of an unauthorized account break-in.
“Do you imagine that rationalization?” Mr. Xu requested rhetorically.
Roger Ver has filed a lawsuit towards OKCoin’s Hong Kong subsidiary for roughly $570,000 over a contract dispute.
In different phrases, CZ and Xu are basically discussing their deal this week by way of a QQ video from 10 years in the past.
CZ calls Huobi founder’s claims ‘recurring liar’ in new guide
additional feud
Mr. Schuh had spent months previewing his arguments in public earlier than CZ’s guide arrived.
After the 2025 flash crash, Xu blamed Binance for unpegging Etena’s USDE stablecoin.
“October tenth was attributable to an irresponsible advertising marketing campaign by sure firms,” Xu wrote. “There aren’t any issues. There aren’t any accidents.”
He additionally accused Binance of repeatedly launching what he referred to as Ponzi-like schemes and utilizing influencer campaigns to suppress dissent.
“I’ll strive to not remark additional on this subject,” CZ mentioned, retweeting a rebuttal from allies.
In 2023, Mr. CZ pled responsible to failing to take care of an efficient anti-money laundering program, paid a $50 million legal advantageous, and watched as the corporate he based paid greater than $4.3 billion in fines.
He was pardoned by President Donald Trump final yr after serving a four-month jail sentence.
