Crypto rivalries have reached new heights as Binance founder Changpeng Zhao (CZ) and OKX founder Star Xu engaged in a high-stakes bet of $1 billion.
The bet was sparked by CZ's memoir, which contained allegations against Xu. The two exchanges have been fierce competitors since CZ left OKCoin, where he worked under Xu, to create Binance in 2015.
According to CZ, the bet was an opportunity for Xu to apologize and clear up any misunderstandings. However, Xu declined, citing the illegality of gambling in his country of residence and his professional obligations.