CZ memoir accuses OKX’s Star Xu of forged contract

Changpeng ‘CZ’ Zhao, founder of Binance, published a memoir that accuses OKX founder Star Xu of using a forged contract in business dealings and links Xu to an arrest connected to Huobi. OKX rejected the claims and said it is considering legal remedies.

In the book, CZ recounts episodes in which he says OKX leadership relied on a fabricated contract to gain leverage in negotiations and to justify corporate actions. He also describes an incident that ties Xu to law enforcement activity involving personnel associated with Huobi. The memoir presents these items as CZ’s recollection of past disputes, not as judicial findings.

OKX responded with a statement calling the memoir’s assertions inaccurate and misleading. Xu denied any involvement in document falsification, asserting he never engaged in forging contracts. The company added it would explore legal options to protect its reputation.

Representatives for CZ and Binance described the memoir as a first-person account intended to explain CZ’s perspective on industry conflicts. Neither side has publicly produced documentary evidence to substantiate the forged-contract allegation beyond the claims appearing in the book and OKX’s rebuttal.

The dispute continues a multi-year rivalry between Binance and OKX over market share, product offerings and regulatory compliance. Both exchanges adjusted their operations as regulators tightened enforcement in China and other jurisdictions, and several industry executives have previously faced investigations in different countries.

Legal specialists note that allegations in a memoir do not carry the force of formal charges and that questions about document authenticity or corporate conduct are usually resolved in court or arbitration. Observers say the dispute could move into formal legal proceedings if either party files suit.

Public reaction on crypto forums and social media showed mixed responses, with some users calling for regulator or independent reviews and others treating the account as a personal narrative. Market platforms for both Binance and OKX continued normal trading in the immediate aftermath of the memoir’s release.