Oct 28, 2025
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OKX Fires Spokesman Amid Allegations Against Rival BN for Poaching
X Layer has removed spokesperson Felix Fan due to a conflict of interest with the company. The nature of these activities remains unspecified.
- OKX President Hong Fang accused a competitor, referred to as "BN," of attempting to entice OKX employees, widely interpreted as targeting Binance.
- Fang claimed the competitor uses a "use-and-discard" hiring strategy, noting examples of quick employee terminations.
- OKX aims to match or exceed offers from competitors for key talent, reporting nearly 100 former managers from the rival have joined them with significant pay increases.
Exchange Rivalry
- The rivalry traces back to 2015, involving allegations between OKCoin and Binance's founder, Changpeng Zhao.
- Binance's market share decreased from 54% to 49% in 2023, while OKX's increased from 11% to 16%.
- Recent events, including Fan's firing, have reignited public tensions between the exchanges.
Market Position
- In September, Binance held 39.71% of the $1.6 trillion trading volume.
- MEXC captured 8.35%, Bybit 8.42%, and Gate 7.87%.
- OKX ranked eighth with 5.6% market share, slightly above Coinbase at 5.19%.
