Author: Gan Jia Ci
Li Shu Fei or Chris Lee, the former CEO of OKEx and CFO of OkCoin, is reportedly joining cryptocurrency rival Huobi as Board Secretary and Vice President of Global Business Development.
OKEx is one of the world’s leading asset exchanges founded in 2014 that is headquartered in Belize city. OkCoin, the parent company of OKEx, is also an exchange platform providing trading services between fiat currencies and digital currencies that is based in Beijing, China.
On 14 May, Lee left his positions in OKEx and OkCoin to “start a new life” for himself.
Lee will soon be leading Huobi’s worldwide mergers and acquisitions strategy and managing international business development including Japan, Asia Pacific, Korea and Middle East as of 18 May, Huobi reported on Monday.
In recent news, OKEx surpassed main rival exchanges Binance and Huobi to be named as the world’s leading cryptocurrency exchange platform with a $1.7 billion worth of 24-hour volume record.
During the Huobi announcement, Lee stated, “I am a big believer in blockchain technology and view exchanges as the heart of the industry.” Seemingly, Lee has no plans to retire from the digital coin industry any time soon.
The Huobi announcement comes in conjunction with Lee’s departure from OKEx and OkCoin, where both were reported only a week apart. While Lee had only been the CEO of OKEx for a few months, he had worked with OkCoin since 2015. He was first appointed as the CEO of OKEx after the OkCoin founder Star Xu stepped down from the position in February.
I've officially joined Huobi group as secretary of the board of Directors & Vice president of International business development
— Chris Lee (@ChrisLEE_Crypto) May 21, 2018
In the WeChat’s public announcement note, Lee explained his decision for the OKEx departure,
“For my former employer, I have done all I could … The first generation of OKCoin’s international and management teams have left. How many of the second generation are still there? And how many CTOs have left in the last three to four years?”
He emphasised on the high turnover rate of veteran executives over the past few years.
Speculations suggested that Lee’s resignation was also directly related to OKEx’s broiling controversy in which the company was accused of fraudulently manipulating Bitcoin futures trading on the exchange.