CZ vs Star Xu: $1 Billion Bet Sparks Fresh Crypto Power Clash

• Binance founder CZ’s memoir release on April 8 reignited old OKCoin-era allegations. 
• CZ escalates the feud on X by issuing a public $1B bet challenging Star Xu to prove his claims.
• Star rejects $1 billion bet citing regulatory and compliance restrictions.

The crypto industry witnessed a high-profile public dispute between Binance founder Changpeng Zhao (CZ) and OKX CEO Star Xu between April 8 and April 10.

The trigger was CZ’s memoir, Freedom of Money, released on April 8. Within hours, old allegations tied to his time at OKCoin resurfaced.

Star Xu repeated claims that CZ falsified contracts in 2014 and pointed to previously published chat logs and notarized evidence. CZ maintained that competitors had used misinformation to damage his reputation during that period.

The situation escalated sharply on April 9 when CZ issued a public $1 billion bet on X, stating he was willing to prove claims about his personal life. He gave Star a 24-hour deadline.

Star rejected the offer within minutes, stating that as the head of a regulated company, he could not participate in public betting due to compliance requirements.

By April 10, the dispute intensified further, and Star reiterated that OKX could not engage in “betting” due to regulatory constraints and framed his response as a compliance issue, not an admission.

He also raised questions about whether CZ had legally separated ownership stakes with his ex-wife following a 20-year marriage, linking personal credibility to financial transparency.

Timeline of the Fued

On April 8, the memoir’s release triggered attention on CZ’s past and early accusations from Star Xu. The next day, the $1 billion bet went public, engagement surged, and the dispute became the dominant topic across crypto social media.

On April 10, Star’s compliance-based rejection added another layer to the conflict. However, the feud did not rely only on new statements. It revived detailed accusations from CZ’s time at OKCoin in 2014-2015.

OKCoin had previously accused CZ of forging a contract version (v8) linked to Roger Ver and attempting to conceal evidence by deleting contacts. The company claimed chat logs confirmed the contract was sent in December 2014 and stated that CZ failed to take responsibility.

Additional accusations included falsifying technical experience, failing to contribute to core systems as CTO, and misleading both OKCoin and other exchanges during business negotiations.

CZ had earlier denied wrongdoing and attributed some issues to account compromise. As per the billionaire, he was a target of coordinated attacks by competitors.

Related: OKX CEO Criticizes CZ Over Claims in Freedom of Money