CEO of OKEx Resigns, Reason Unknown

OKEx recently overtook Binance as the world's busiest cryptocurrency exchange.

Chris Lee, the CEO of OKEx, has resigned from his post.

OKEx, formerly known as OKCoin, is the most heavily-used cryptocurrency exchange in the world, a position for which it constantly jostles with Binance. The latter is usually in front, but OKEx has as of now overtaken it. It handled $2.1 billion in trading volume over the last 24 hours.

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It should be noted though that OKEx volumes are not without controversy. Two weeks ago the price of Bitcoin as listed on the platform crashed to more than $2,000 less than it was anywhere else, which led some to suspect market manipulation on the part of the exchange. OKEx denied the allegations and temporarily halted futures contracts to stabilise the price.

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In March of this year, one commentator posted what he claimed was evidence that the exchange’s volumes were mostly fabricated.

Lee announced his resignation via an email sent to Bloomberg. Apparently, he has left to “start a new life”. He said that it has been an honour to work at the exchange and that he will return to blockchain business after spending time with his family. Apart from this, no reason for the resignation was offered.

The Hong Kong-based exchange has not yet commented on the exit or announced a replacement. Lee’s picture no longer appears on its website.

OKEx recently announced that it will be setting up an office in the island of Malta, following in the footsteps of Binance, and last week it launched a programme to connect investors with selected blockchain projects.

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