Chris Lee, the former CEO of Hong Kong-based crypto exchange OKEx, has announced he is joining rival platform Huobi as its vice president of global business development.
According to an announcement by Singapore-based Huobi on Monday, Lee will head the group's global mergers and acquisitions strategy and supervise international development as the exchange moves towards global expansion.
“I am a big believer in blockchain technology and view exchanges as the heart of the industry,” Lee said in the announcement.
The new appointment comes just a week after Lee announced his resignation from OKEx on WeChat – a departure that came after just months as the platform's CEO.
According to his announcement, Lee had been with OKEx's parent firm OKCoin since 2015. He was appointed CEO of OKEx after his predecessor, OKCoin founder Star Xu, stepped down from the role in February.
In a public note on WeChat, Lee suggested that OKCoin has experienced a notable turnover rate of senior executives in the past several years.
Lee's resignation also comes soon after OKEx faced accusations from investors that it manipulated bitcoin futures trading on the platform.
"We have not reason to, and have never and will not, manipulate the prices of any of our market," it said at the time.
Bitcoin miniature image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.