A new dispute has broken out between Star Xu and Changpeng Zhao, the founders of two major cryptocurrency exchanges, Binance and OKX, following CZ’s comments about Hyperliquid (HYPE).
First, CZ recently praised Hyperliquid technology in an interview, describing the platform as a significant innovation. However, he said Binance cannot follow the same path as Hyperliquid operates without KYC checks and faces legal and regulatory risks.
Following CZ’s statements, OKX founder Star Xu criticized CZ in a social media post, questioning whether he was misleading the public once again.
OKX founder Xu claims that Binance and CZ, despite being fully aware of the legal and regulatory risks, have created a decentralized cryptocurrency exchange (DEX) called Aster (ASTER), which he describes as an almost exact copy of the Hyperliquid model.
Xu argued that Aster shared resources and personnel with the entire Binance ecosystem, including team members, and that CZ had supported the project on several occasions. In this context, Xu claims that CZ still works at Binance using Aster as a front.
Xu asked: “Creating a separate shell could be a way to ensure regulatory compliance. If the business model, resources, personnel and incentives are largely the same, what’s different?”
Following Xu’s statements, Binance co-CEO He Yi announced that CZ will no longer be involved in the exchange’s operations since 2023.
He Yi added that CZ also advises Aster. Aster is a BNB-based project backed by YZi Labs, a venture capital firm affiliated with Binance.
*This does not constitute investment advice.
