OKX CEO Star reiterated Bitcoin’s drop occurred before USDe depegging, highlighting leverage effects, and clarified financial ties with Dragonfly to address misinformation amid dispute over crash causes.
On Jan. 31, OKX CEO Star responded to CZ’s tweet, asserting Bitcoin began declining 30 minutes before USDe’s depeg on October 10 and that heavy leverage intensified the sell-off. Star further clarified that venture capital firm Dragonfly never invested in OKX, and that OKX’s investment in Dragonfly occurred before partner Haseeb joined the firm. The remarks come amid an ongoing dispute with Haseeb, who previously rejected Star’s attribution of the crash to Binance and Ethena, citing tariff-related panic as the primary cause.