OKX Founder Star Xu Faces a Rumored US Investigation: Fact or Fiction?
The post OKX Founder Star Xu Faces a Rumored US Investigation: Fact or Fiction? appeared first on Coinpedia Fintech News
Rumours about cryptocurrency exchange OKX’s founder Star Xu being involved in a potential investigation by the United States are swirling around the internet, gaining high attention. These rumors are believed to be true as Xu’s past legal troubles are well known to the crypto community.
Alvin’s Whispering of US Investigations
Recent rumours that have emerged from within the Chinese community allege that OKX’s CEO Star Xu is under investigation by US authorities.
A popular crypto community member and a Chinese whistleblower, Alvin, has posted on X two tweets shedding light on the probable investigations. Translated from Chinese, Alvin’s posts suggest that the probable investigations are most likely to be rumours only to boost OKB’s price and strength in the market.
Drawing parallels from their previous post Alvin has previously suggested that “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.
The Infamous Legal Woes of Star Xu
Star Xu, the enigmatic figure behind OKX, has a history lined with legal controversies. In October 2020, Xu was mysteriously arrested while assisting police in a non-exchange-related investigation. Nonetheless, being the CEO, Xu’s absence coincided with OKX suspending users from withdrawing their crypto funds, sparing serious market courage and concerns.
While the reasons for his arrest remained unclear, various reports suggested that Xu might have been involved in a backdoor listing investigation.
Last month, around the first week of February 2024, OKX faced heated scrutiny from South Korean agencies over allegations of unregistered activities targeting Korean investors. South Korea’s Financial Intelligence Unit is set to investigate OKX, underscoring the fact that OKX had promoted its services to Koreans without complying with the local regulatory requirements.
Despite past brushes with legal issues, Xu’s role in OKX and associated entities has remained under scrutiny. The swirling rumours surrounding Star Xu’s purported investigation by US authorities are still remaining to be confirmed to be true or not.
Read More
OKX Founder Star Xu Faces a Rumored US Investigation: Fact or Fiction?
The post OKX Founder Star Xu Faces a Rumored US Investigation: Fact or Fiction? appeared first on Coinpedia Fintech News
Rumours about cryptocurrency exchange OKX’s founder Star Xu being involved in a potential investigation by the United States are swirling around the internet, gaining high attention. These rumors are believed to be true as Xu’s past legal troubles are well known to the crypto community.
Alvin’s Whispering of US Investigations
Recent rumours that have emerged from within the Chinese community allege that OKX’s CEO Star Xu is under investigation by US authorities.
A popular crypto community member and a Chinese whistleblower, Alvin, has posted on X two tweets shedding light on the probable investigations. Translated from Chinese, Alvin’s posts suggest that the probable investigations are most likely to be rumours only to boost OKB’s price and strength in the market.
Drawing parallels from their previous post Alvin has previously suggested that “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.
The Infamous Legal Woes of Star Xu
Star Xu, the enigmatic figure behind OKX, has a history lined with legal controversies. In October 2020, Xu was mysteriously arrested while assisting police in a non-exchange-related investigation. Nonetheless, being the CEO, Xu’s absence coincided with OKX suspending users from withdrawing their crypto funds, sparing serious market courage and concerns.
While the reasons for his arrest remained unclear, various reports suggested that Xu might have been involved in a backdoor listing investigation.
Last month, around the first week of February 2024, OKX faced heated scrutiny from South Korean agencies over allegations of unregistered activities targeting Korean investors. South Korea’s Financial Intelligence Unit is set to investigate OKX, underscoring the fact that OKX had promoted its services to Koreans without complying with the local regulatory requirements.
Despite past brushes with legal issues, Xu’s role in OKX and associated entities has remained under scrutiny. The swirling rumours surrounding Star Xu’s purported investigation by US authorities are still remaining to be confirmed to be true or not.
Read More