Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi

Chris Lee, the previous CEO of Hong Kong-dependent crypto trade OKEx, has announced he is becoming a member of rival platform Huobi as its vice president of international small business improvement.

According to an announcement by Singapore-dependent Huobi on Monday, Lee will head the group’s international mergers and acquisitions system and supervise worldwide improvement as the trade moves to international enlargement.

“I am a huge believer in blockchain engineering and see exchanges as the heart of the field,” Lee stated in the announcement.

The new appointment will come just a 7 days just after Lee announced his resignation from OKEx on WeChat – a departure that came just after just months as the platform’s CEO.

According to his announcement, Lee had been with OKEx’s parent business OKCoin given that 2015. He was appointed CEO of OKEx just after his predecessor, OKCoin founder Star Xu, stepped down from the function in February.

In a public observe on WeChat, Lee instructed that OKCoin has seasoned a notable turnover fee of senior executives in the earlier numerous several years.

He stated:

“For my previous employer, I have carried out all I could … The initial era of OKCoin’s worldwide and administration teams have remaining. How a lot of of the second era are continue to there? And how a lot of CTOs have remaining in the very last 3 to four several years?”

Lee’s resignation also will come shortly just after OKEx faced accusations from investors that it manipulated bitcoin futures buying and selling on the platform.

As documented previously by CoinDesk, OKEx rolled back again futures transactions on March 30 next what it identified as an “irregular” market-off, afterwards denying allegations that it “brought on pressured liquidations of accounts by manipulating the costs.”

“We have not explanation to, and have by no means and will not, manipulate the costs of any of our industry,” it stated at the time.

Most not long ago, China National Radio (CNR), a superior-degree government mouthpiece, also aired uncertainties about the legality of bitcoin futures buying and selling provided by OKEx. Nevertheless, the platform has not responded to the allegation.

Bitcoin miniature impression via Shutterstock

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