OKX founder: exchanges should earn from technology, not customer funds
- —Xu: fintech firms must earn from technology and services, not customer funds
- —OKX publishes monthly proof-of-reserves and is weighing a listing to boost transparency
- —He blamed the Oct. 10, 2025 crash on repeated use of USDe as margin and loan collateral
- —Binance and the Ethena Foundation offered different explanations, citing USDe/USDT price divergence and exchange pricing
Why it matters: The comments from a major exchange founder raise pressure on rivals over transparency and the use of customer assets.
Source: TokenPost