‘We’ll do better,’ says OKX founder amid community backlash – Here’s why

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Key Takeaways

Why did the community slam OKX?

Well, folks, it looks like while rivals are flying off into the future, OKX is still stuck in neutral. The OKB token and the exchange itself seem to be gathering dust, leaving some users scratching their heads. 😕

How did OKX react?

Star Xu, the man at the helm, has promised that they’ll address some concerns. But hey, don’t expect too much-he’s got to keep one eye on the compliance police! 🚨

OKX, once known as OKEx (who can keep up with all these name changes?), is in the hot seat due to its lack of “strategic vision” and, well, transparency issues with its token, OKB. You know, small stuff like that. 🙄

One user, who claimed to be a VIP (don’t we all, though?), threw some serious shade at the exchange, pointing out that Binance and their flashy founder CZ are running laps around OKX. Ouch! 💥

“I think Xu Mingxing’s biggest mistake might be his restraint. Whether it’s OKB’s strategy, prep, or even the future OKpay, without support, they’ll still be dead in the market!”

The drama didn’t stop there. This user raised an alarm on the “mysterious” OKB buyback program, which shot up over 400% in August. But where’s the transparency, huh? 😤 Binance, meanwhile, is happily burning tokens in public view, making OKX look like it’s hiding something under the rug.

Let’s be real here-if Star Xu doesn’t step up his game, competitors like Binance will continue to leave OKX eating their dust. 🤷‍♂️

OKX founder accepts criticism, but…

Star Xu took a moment to acknowledge the complaints, saying they’ll address some issues. But hold your horses, folks-don’t expect any miracles. Some things are just off-limits due to, you guessed it, “compliance restrictions.” Classic. 🤫

Earlier this year, OKX faced another round of criticism after locking down a bunch of accounts. It seems like they’re really great at making headlines for the wrong reasons. 😅

Just a little history lesson: OKX rebranded from OKEx back in 2017-the same year Binance entered the scene. Funny how things work out, huh? Binance, led by the one and only CZ, took off while Star Xu and his team had a bit of a rougher road ahead.

As of 2025, Binance sits comfortably at the top of the crypto exchange world, while OKX is way down in the seventh spot. But hey, seventh place is still a place, right? 👏

Binance has been busy building its BNB Chain, using the BNB token as a gas token and a community tool. It’s been thriving, with BNB recently hitting a new high of $1,355-a nice little 130% bump over the past year.

OKX, not wanting to be left in the dust, launched X Layer and tried to integrate OKB into its ecosystem. But let’s face it, it’s just not getting the same kind of attention that BNB is. 😬

OKB did have a nice little pop in August, gaining over 400% thanks to that mysterious buyback plan. But even with that, it’s still lagging behind BNB. The OKB/BNB ratio has been dropping like a rock these past two months, and it’s not looking pretty.

Source: OKB/BNB ratio, TradingView

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2025-10-08 09:16