[Taklimakan Blog] OKEx CEO Calls Binance’s DeFi Policy “Irresponsible”
1 min readOct 5, 2020
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OKEx believes Binance’s policies are bad for the development of the decentralized finance market
Jay Hao, head of cryptocurrency exchange OKEx, criticized Binance for supporting unverified projects from the decentralized finance (DeFi) industry. Hao wrote about this on his Twitter page.
In particular, Hao accused the Binance Smart Chain (BSC) blockchain of being highly centralized, stressing that the network is completely controlled by one group.
“Built on top of the BSC, BakerySwap [BAKE] caused huge losses for many retail investors less than 12 hours after mining started, leading to protests against BSC in China and elsewhere,” Hao said.
What specific losses are in question is still unknown.
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