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Binance Founder’s Memoir Reignites Feud with OKX’s Star Xu
Former Binance CEO Changpeng Zhao, fresh from his prison sentence, has stirred controversy with the release of his autobiography “Freedom of Money.” The 457-page memoir, published on April 8, chronicles CZ’s journey building one of the world’s largest cryptocurrency exchanges but has quickly rekindled a decade-old rivalry with OKX founder Star Xu.
In his book, Zhao makes serious allegations against Xu, claiming his long-standing rival attempted to sabotage him by spreading fear, uncertainty, and doubt (FUD) while portraying him as an unfit chief technical officer. The accusations don’t stop there—CZ also implicates Huobi founder Leon Li in the controversy.
“Five years later, at a dinner in 2025, I met Li Lin again after 11 years,” Zhao writes. “Li Lin told me that he had seen a screenshot showing Xu Mingxing personally reporting him to the Chinese police, and it was this report that led to his arrest.”
Xu wasted no time responding to these allegations. “After spending four months in prison, he continues to make false statements to the world. All I can say is: a habitual liar never changes their nature,” the OKX founder fired back on social media.
While initially stating he had “no intention of revisiting these old issues involving CZ,” Xu nevertheless went on to counter Zhao’s claims by sharing a decade-old YouTube video which, according to him, contained evidence of contract forgery.
The bitter exchange highlights the complex history between the two crypto pioneers. Their professional relationship dates back to mid-2014 when Zhao joined OKCoin (now known as OKX) as CTO. His tenure was short-lived, however, as he departed in early 2015 amid disputes over his 10% equity stake and a controversial Bitcoin.com domain deal.
This public feud represents another chapter in the ongoing drama that has characterized certain segments of the cryptocurrency industry, where personal rivalries often spill into the public domain and become entangled with business operations.
Industry analysts note that such high-profile conflicts between crypto executives can sometimes impact market sentiment, though in this case, the dispute appears to have had minimal effect on Binance’s native token. BNB was trading at $600.45 following the exchange, showing a modest decline of 1.11% over 24 hours—a movement largely in line with broader market trends, which saw an overall dip of 1.51% during the same period.
The memoir and subsequent fallout come at a challenging time for Zhao, who recently served a four-month prison sentence after pleading guilty to money laundering violations last year. The former Binance chief stepped down as part of a $4.3 billion settlement with U.S. authorities in November 2023, marking one of the most significant enforcement actions in cryptocurrency history.
“Freedom of Money” appears to be Zhao’s attempt to shape his legacy beyond these legal troubles, highlighting his role in building Binance into a global cryptocurrency powerhouse that at one point handled more than half of all crypto trading volume worldwide.
For market participants, the ongoing saga between these influential figures serves as a reminder of the cryptocurrency sector’s relatively young and often tumultuous history, where personal relationships and conflicts have played significant roles in shaping the industry landscape.
As cryptocurrency adoption continues to grow and the industry matures, such public disputes between founding figures may become less common, but the impact of these early rivalries on the development of the crypto ecosystem remains undeniable.
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9 Comments
This is a messy situation with a lot of back-and-forth accusations. As an observer, it’s hard to know whose version of events is accurate. Transparency and due process would be important in resolving such high-stakes disputes.
This feud between crypto exchange leaders seems to have a long and complicated history. It’s concerning to see such serious allegations being traded publicly. I hope they can resolve their differences professionally and transparently.
This dispute raises important questions about transparency and accountability in the crypto space. I would encourage the parties involved to address these issues constructively and with the interests of the industry in mind.
This appears to be a complex, long-running dispute between crypto exchange leaders. While the allegations are serious, I’d caution against rushing to judgment without a fuller understanding of the facts and context.
Well said. High-profile disputes like this can be messy, and it’s important to avoid knee-jerk reactions until more information comes to light.
Allegations of false statements and sabotage are troubling, if true. However, I’d want to see more evidence before drawing conclusions. These are prominent figures, and their actions can impact the broader crypto landscape.
I agree, more facts are needed here. Public feuds like this can be very damaging, even if one side is in the right.
The crypto industry is still maturing, and it’s concerning to see such public feuding between major players. I hope they can move past personal rivalries and focus on building trust and stability in the sector.
Infighting and public accusations between crypto industry leaders is concerning. I hope they can resolve this through proper channels and avoid further damage to their reputations and the broader crypto ecosystem.