OKX founder criticizes CZ over Binance compensation remarks after 2025 crash

OKX founder Star Xu criticized Binance founder Changpeng Zhao over comments describing Binance’s user compensation after the Oct. 10, 2025 crypto market crash as a voluntary act of goodwill. In a post on X, Xu said the selloff affected user assets worth tens of billions of dollars, caused major financial losses and damage across the industry, and pushed the crypto market into a prolonged slump. Xu added that investor assets and trust were also badly hurt. Xu said Zhao stated in a recent interview that Binance voluntarily compensated affected users by about $800 million even though it had no legal obligation to do so. Xu argued it was not appropriate to frame the episode as a case highlighting Binance’s voluntary compensation and goodwill while many users suffered heavy losses and the industry was still struggling to restore trust.