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HomeCryptocurrency NewsFormer OKEx chief joins rival cryptocurrency exchange Huobi

Former OKEx chief joins rival cryptocurrency exchange Huobi


A shocker for OKEx as former CEO Joins Huobi

Following a ‘short break’ from the blockchain community, Chris Lee has announced a switch to major rival Huobi just a week after stepping down as OKEx CEO.

Has Lee Been Dating Huobi?

An announcement by Singapore-based, Huobi confirmed that Chris Lee would join the group as the vice president of the global business development team.

He had been OKEx CEO for less than four months having assumed that role in February when Star Xu,  OKCoin founder resigned.

Rumors suggest that a breakdown in relationship with OKcoin founder Xu Ming Xing had led to Lee’s step down, but even that would matter for less right now as Lee sounded bullish while announcing his new role on Twitter.

The tweet read,

“I’ve officially joined Huobi group as secretary of the board of Directors & Vice president of International business development.

With the combination of #Huobi expertise with industry-leading marketing & operational abilities, we WILL be biggest in the entire industry!”

‘’I am a big believer in blockchain technology, and view exchanges as the heart of the industry,” he had said in the announcement.

Lee’s alignment with Huobi will arguably represent a major boost as the firm strives to skyrocket international development by penetrating new fields in the coming months.

He has no doubt gathered a wealth of experience during his stint with OKCoin and will relish a quick return to the crypto fold.

On the other side of the coin, it would be a huge loss for OKEx who are coming off the back of a major crisis.

The crypto exchange was recently accused of manipulating bitcoin futures trading on their platform, resulting in many users taking advantage of the volatile figures to increase profits and others moving their assets away from the platform in that period.

A major steal?

Huobi had just put one past OKEx, but the later is still the world’s largest cryptocurrency exchange by turnover according to CoinMarketCap. Binance now in second place after leading the exchange from January until a few weeks ago, continues to separate Huobi and OKEx at the top.

Will Lee’s move really spark massive growth at Huobi?


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