Binance CZ vs OKX Star Xu: A Crypto Memoir Just Turned Into a $1 Billion Wager

A public dispute has erupted between Binance founder Changpeng “CZ” Zhao and OKX founder Star Xu following the release of Zhao’s new memoir, which culminated in a public $1 billion wager regarding Zhao’s marital status and the resurfacing of decade-old corporate allegations.

Key Details

The conflict began following the April 8, 2026 publication of Zhao’s autobiography, Freedom of Money.

• In the book, Zhao revisits his brief 2014-2015 tenure as Chief Technology Officer at OKCoin, the predecessor to OKX founded by Xu.
• Zhao alleged that rivals attempted to undermine him during that period. Furthermore, Zhao wrote that Huobi founder Leon Li told him in 2025 that he believed Xu had reported Li to Chinese authorities years earlier.

Responding on the social media platform X, Xu denied the allegations regarding Li, stating he never reported him to authorities.

https://twitter.com/star_okx/status/2041766531122823215?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

• Xu subsequently called Zhao a “habitual liar” and resurfaced a 2015 corporate dispute.
• Xu alleged that during Zhao’s time at OKCoin, Zhao fabricated a commercial contract involving early Bitcoin investor Roger Ver to include a six-month termination clause.
• To support his claim, Xu referenced a notarized video from 2015 that OKCoin previously released, which he claims proves the forgery.
• Zhao has consistently denied these allegations, noting in his memoir that he believes the evidence against him was manipulated.

The $1 Billion Wager

The exchange shifted from corporate history to personal matters when Xu publicly questioned Zhao’s marital status and honesty, demanding proof of Zhao’s divorce.

On April 9, Zhao responded on X, stating he is “officially divorced” and offered a financial wager to settle the claim.

“I won’t post any legal docs online, as I respect privacy of my ex-wife, and I appreciate the time we spent together,” Zhao wrote. “I am happy to bet $1 billion USD (or any number you choose) that: I am officially divorced (way before today).”

Zhao stated that lawyers could privately validate the divorce agreement and gave Xu 24 hours to accept the challenge, though he noted the offer remained permanently open.

Wager Declined

Xu declined the wager, citing compliance and regulatory considerations. Pointing to his role as the Ultimate Beneficial Owner (UBO) of OKX, Xu stated that “publicly offering a $1 billion bet is hardly professional conduct.”

https://twitter.com/cz_binance/status/2042294828243832927?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

Instead, Xu pressed Zhao for further financial transparency, questioning whether Zhao’s equity in Binance had been legally separated as part of the divorce proceedings. Zhao dismissed the inquiry regarding his corporate shares, responding that the status of his Binance stake was not Xu’s business.

Neither executive has announced further legal or administrative actions regarding the contract allegations or the public dispute.

This article is published on BitPinas: Binance CZ vs OKX Star Xu: $1 Billion Bet Fuels Crypto Feud Over Memoir Claims

What else is happening in Crypto Philippines and beyond?