Key Insights
- •OKX dismissed X Layer chief Felix Fan, citing conflict of interest and policy violations.
- •OKX president hinted Binance may be targeting company staff with aggressive hiring offers.
- •Rivalry between OKX and Binance intensifies as both compete for top blockchain talent.
OKX has confirmed the dismissal of Felix Fan, the head of its public blockchain project X Layer, following an internal review that found a conflict of interest with the company. The announcement was made through an official post on X by XLayerOfficial.
The statement read:
“During his tenure, Felix Fan, spokesperson of X Layer, engaged in activities that created a conflict of interest with the company. After careful consideration, the company has decided to remove Felix Fan from his position with immediate effect.”
The company also stated that any statements or actions made by Fan will no longer represent X Layer. It added that all related matters will be handled “in accordance with applicable laws and regulations.”
Leadership Comments and Binance Allegations
Shortly after the announcement, OKX President Hong Fang posted a message referring to “a certain competitor, ‘BN,’” which she claimed had been making offers to OKX employees. While she did not name Binance directly, her message appeared to refer to the exchange, suggesting ongoing tensions between the two companies.
“Recently, we’ve noticed that a certain competitor, ‘BN,’ has been enthusiastically firing tempting ‘sugar-coated bullets’ at OKX employees,” Fang wrote. She said OKX would handle the situation “with professionalism, not theatrics,” emphasizing that the company would continue to focus on employee trust and long-term development.
Her remarks came amid reports of increased hiring activity across the exchange industry, where companies are competing for blockchain specialists and senior leadership talent.
OKX Outlines Employee Retention Strategy
In the same post, Fang outlined OKX’s internal Competitive Offer Policy, which allows employees to present external job offers for review. OKX’s Talent Committee then evaluates whether to match or exceed those offers to retain valued team members.
According to Fang, OKX aims to reward transparency and maintain open communication. “For most key talents, OKX will instantly match or exceed the competing offer with a more attractive compensation package,” she noted. If the company chooses not to match, affected employees receive severance and career support.
Fang added that OKX values professionalism and respect within its workforce, stating that the company’s approach focuses on “strength, culture, and trust — not noise.”
Industry Rivalry Intensifies
The removal of Felix Fan and Fang’s remarks point to a broader competition for top talent between leading exchanges. OKX and Binance have both expanded their efforts in Layer 2 and Web3 infrastructure, increasing the demand for experienced blockchain engineers and executives.
Neither Binance nor Fan has issued an official statement. Market observers continue to watch for any response from Binance regarding the recruitment claims. The situation reflects growing rivalry in the crypto sector, where firms compete not only on products and users but also on attracting and retaining high-level talent.