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Crypto currency world witnessed an important development today. It was reported that the founder of OKX was detained by US authorities. Following the spread of these claims on social media platforms, OKX’s founder Mingxing Xu responded strongly. Xu quickly refuted these allegations and expressed his discomfort with the ongoing FUD on social media.
Is OKX Founder Facing Legal Issues in the US?
Rumors in the Chinese crypto community started circulating when a prominent figure, Alvin, began receiving questions about Xu’s alleged arrest in the US.
Alvin immediately dismissed the rumors, claiming that the news was potentially a move to manipulate OKX’s native token, OKB. Alvin made the following statement:
“Today, many people asked me if the rumors about Xu Xingxing being arrested by Americans were true. I think it’s most likely just a rumor. They are trying to manipulate OKB.”
The price of OKB experienced wild fluctuations over the past week, dropping to $54 before returning to its current value of $57 at the time of writing.
Reaction from OKX Partner
As the discussions continued, a reaction came from Gala Wen, the partnership leader at OKX. Echoing Alvin’s sentiments, Wen dismissed the allegations as false. Wen emphasized Xu’s active role in the company’s US operations and rejected any notion of legal troubles. His statement included the following:
“This is a big lie. Arrests in the United States are public information, and anyone can check on the government’s website. Our office in America is very large, and the boss personally comes and handles things. We work very hard every day with high morale.”
This isn’t the first time Xu has faced such allegations. In 2020, he was confronted with claims of being detained in China, coinciding with his exchange’s temporary suspension of cryptocurrency withdrawals, which caused market concerns.
