OKX Accuses Binance of Predatory Poaching in Crypto Talent War

OKX, a major player in the cryptocurrency exchange sector, has intensified its public rivalry with Binance while rolling out strategic updates to bolster its competitive edge. The exchange recently accused a rival—widely identified as Binance—of engaging in "predatory poaching" of its talent, a claim that has reignited long-standing tensions between the two firms, according to a a Yahoo Finance report. In a statement on X, OKX President Hong Fang alleged that Binance employs a "use-and-discard" hiring strategy, citing examples of former executives who left or were terminated shortly after joining. OKX has responded by implementing a policy to "match or exceed" competing offers for key employees, with nearly 100 mid- to senior-level hires from the rival joining OKX in recent months, receiving salary increases of 100% to 500%, according to Lookonchain.

To further solidify its market position, OKX introduced a delta neutral trading strategy on November 5, 2025, exclusively for VIP users, as reported by Blockchain News. This risk management tool allows traders to hedge positions by maintaining low delta exposure, reducing auto-deleveraging risks, and increasing USDT borrowing limits. While the strategy offers flexibility, it comes with restrictions, including lower borrowing caps for VIP 8 users compared to the general trading strategy. OKX's move underscores its focus on catering to advanced traders seeking sophisticated tools in a volatile market.

The exchange has also expanded its product offerings by listing Virtuals Protocol (VIRTUAL) for spot trading against USDT. The decision follows a 90% surge in the token's value over a week and a three-month high, driven by rising on-chain activity and integrations within the AI agent ecosystem, according to a BeInCrypto report. OKX's listing aligns with broader market optimism, as 87% of traders remain bullish on VIRTUAL despite recent price corrections. The exchange's timing highlights its strategy to capitalize on emerging trends, particularly in AI-driven blockchain projects.

These developments come as OKX and Binance continue their decades-old rivalry, which dates to 2015 when OKCoin (OKX's predecessor) accused Binance founder Changpeng Zhao of contract forgery and technical misconduct, according to earlier Yahoo Finance coverage. While Binance's market share dipped to 39.71% in Q3 2025, OKX's share grew to 5.6%, reflecting a shift in competitive dynamics. OKX's expansion into Europe through regulated partnerships and its focus on talent retention position it to challenge larger rivals, particularly as the industry grapples with regulatory scrutiny and evolving user demands, as noted by Lookonchain.