Speculation is buzzing about Star Xu, the founder of cryptocurrency exchange OKX, possibly being investigated by US authorities. These rumors, spreading online, gain traction due to Xu’s previous legal issues, adding to the intrigue.
Here’s the truth of the matter!
What Are the Allegations?
Nothing stays quiet in the crypto world for too long!
Rumors carry weight, and recently, the Chinese crypto community has been discussing claims that OKX’s CEO, Star Xu, is under US investigation. The genesis of these rumors lies in revelations made by Alvin, a prominent voice in the community, who took to social media to share insights.
“Bitcoin is strong because Satoshi Nakamoto disappeared, SOL is strong because SBF has entered, and Luna is strong because DK has entered, so why is ETH weak?”
To all these suggestions by Alvin, Star Xu has personally taken to X to comment nothing more but an angry emoticon. His remark is giving rise to more speculations as we cannot understand whether he is angry about the fact that Alvin thinks these are PR stunts to boost OKB or he is angry about the fact that Alvin thinks these are rumours but in reality the investigations are true.
However, these rumours are nothing new than Star Xu’s previous legal troubles.
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A History of Controversies
Xu’s past is marked by legal disputes, with one notable incident occurring in October 2020 when he was arrested during an investigation unrelated to the exchange. This arrest coincided with OKX’s decision to suspend crypto withdrawals, causing concern in the market.
In addition to Xu’s troubles, South Korean authorities are examining OKX over allegations of unregistered activities targeting Korean investors. The country’s Financial Intelligence Unit has pledged to investigate OKX’s operations, highlighting the exchange’s failure to comply with local regulations.
The Verdict
While Xu has weathered past legal storms, his tenure at OKX remains under scrutiny. As rumors swirl about a possible US investigation, the crypto community eagerly awaits confirmation or dismissal of these speculations.
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