According to BlockBeats, on June 17, OKX CEO Star publicly criticized Binance founder CZ for creating an independent entity that replicates the Hyperliquid business model while fully aware of associated legal and regulatory risks. Star stated that despite the shared business model, resources, personnel, and incentive mechanisms between the entities, CZ positioned the move as a compliance measure.
Shortly after, Binance Co-CEO He Yi responded on social media with a post stating, "Jealousy distorts people." While not directly naming Star, her comments appeared to reference the criticism.