Crypto Talent War Drives OKX to Fire X Layer's Fan

OKX has fired Felix Fan, the head of its X Layer public blockchain initiative, amid escalating tensions with rival exchange Binance, which the company has indirectly accused of poaching talent, according to a BeInCrypto report. The sudden dismissal has fueled speculation about internal conflicts and the broader rivalry between the two crypto giants.

The incident began when X Layer announced Fan's removal, citing a "conflict of interest" and ethical violations, a claim first reported by BeInCrypto. The exchange provided no further details, but the community has been abuzz with theories. OKX President Hong Fang later hinted at Binance's involvement in a LookonChain post, criticizing a "certain competitor" for luring away employees with high salaries before discarding them. While not explicitly naming Binance, the reference aligns with recent tensions between the exchanges, including disputes over X Layer's rollout last year, as noted by BeInCrypto.

OKX's response to the alleged poaching includes a new "Competitive Offer Policy," which allows employees to submit competing job offers for evaluation. If the offer cannot be matched, the employee receives generous compensation and blessings, Hong explained in the LookonChain post. The policy aims to retain talent amid aggressive recruitment tactics from rivals. Hong emphasized OKX's commitment to professionalism, noting that nearly 100 mid- to senior-level employees from competitors have voluntarily joined OKX in recent months, often with 100% to 500% salary increases — a point he reiterated in the same LookonChain post.

The dismissal has deepened uncertainty about X Layer's future. Fan, who served as X Layer's "Builder 001," had built a strong community following, according to BeInCrypto. His departure, coupled with vague explanations from the exchange, has left many questioning OKX's internal governance. Some users have speculated that Fan's removal relates to a friendly meme coin bet with OKX's CEO, though no evidence supports this, as reported by BeInCrypto.

The rivalry between OKX and Binance has intensified in recent months, with both exchanges vying for dominance in decentralized infrastructure and talent acquisition. Binance's potential involvement in recruiting Fan—if proven—would underscore the cutthroat nature of the crypto industry. OKX's public rebuke of its competitor signals a shift toward more aggressive defense of its workforce and projects, a stance Hong articulated in his LookonChain post.

The fallout highlights broader challenges in retaining top talent in a sector where competition is fierce. OKX's proactive approach, including transparent HR policies and financial incentives, could set a precedent for how exchanges manage talent wars, a pattern noted in commentary following the BeInCrypto report. Meanwhile, the incident serves as a reminder of the volatility inherent in the crypto space, where personnel changes can swiftly impact public perception and project stability.