The founders of two of the world’s largest cryptocurrency exchanges are embroiled in a heated public dispute, with OKCoin’s Star Xu calling Binance CEO Changpeng Zhao (CZ) a ‘liar’ over revived allegations dating back to 2011. The conflict, which includes references to a $1 billion wager, has sent shockwaves through the crypto community.
Sources familiar with both exchanges confirm the dispute stems from Zhao’s brief tenure at OKCoin before founding Binance. Analysts note this marks the third major public feud between Asian crypto exchange founders in 2026 alone.
‘These allegations never truly went away,’ said a Singapore-based crypto analyst who requested anonymity due to ongoing business relationships. ‘The billion-dollar challenge just brought everything back to the surface.’
Blockchain records reviewed by investigators show multiple high-value transactions between wallets associated with both parties during the disputed period. However, experts caution these could represent normal exchange operations.
The timing raises questions, coming just weeks before both companies report Q1 earnings. Some industry watchers speculate this could be a coordinated distraction from upcoming financial disclosures.