The competition between Binance and OKEx, two major cryptocurrency exchanges, once based in China, is in full swing. Especially in September 2020, a tension related to DeFi projects caused Binance CEO Changpeng Zhao to block OKEx CEO Jay Hao on Twitter. In other words, it is known that there is a great tension between the two exchanges and the CEO. On top of this tension, it seems that OKEx’s plight accelerated Bitcoin’s flow to Binance, makes CZ happy.
OKEx crypto currency exchange stopped all withdrawals on October 16, 2020. The reopening of the withdrawals took place on November 26, and the long period of time has bored many OKEx users. This naturally led to the outflow of funds as soon as the withdrawals were opened and some of the users fled.
As soon as the OKEx cryptocurrency exchange opens withdrawals, the large amount of BTC flows to rival cryptocurrency exchanges such as Binance and Huobi confirms the above data. It has been claimed that close to 2,000 Bitcoins were transferred from the OKEx exchange to Binance when the transactions were first opened.
CEO of Binance is in good mood
CEO of Binance Changpeng Zhao also escalated the situation with a very cheerful tweet over all these events. Today, showing that he is on a “good day” with the olive branch he extended to Vitalik Buterin, CZ confirmed this with his comment on the BTC transfer from the OKEx exchange.