OKX Loses Global General Counsel Amid Legal Overhaul

OKX, a prominent cryptocurrency exchange, has recently experienced significant changes in its legal and compliance leadership. The latest departure is Melissa Muehlfeld, who served as the global general counsel. Muehlfeld joined OKcoin, the U.S. arm of OKX, in May 2022 as deputy general counsel and was later promoted to global general counsel in August 2024.

This departure follows a series of high-profile exits within OKX's legal and compliance divisions. In February of this year, the exchange settled charges with the U.S. Department of Justice (DoJ) for half a billion dollars. Following this settlement, OKX replaced its chief legal officer, Mauricio Beugelmans, and head of compliance, Vanessa Zhang. The exchange then appointed Linda Lacewell, the former superintendent and head of the New York Department of Financial Services (NYDFS), as its new chief legal officer.

According to a source familiar with the situation, Lacewell is currently restructuring the firm’s legal and compliance divisions. This restructuring comes at a time when the exchange is navigating regulatory challenges and internal changes. OKX has not commented on the departures, citing company policy. Muehlfeld also did not respond to requests for comment.

These changes highlight the ongoing efforts by OKX to strengthen its legal and compliance framework in response to regulatory scrutiny and internal restructuring. The departure of key legal executives, including Muehlfeld, Beugelmans, and Zhang, suggests a significant overhaul within the exchange's leadership. The appointment of Lacewell, with her extensive regulatory experience, indicates a strategic move to enhance the exchange's compliance and legal operations.