The Narrative of Questions around Investment
Xu said that Zhao frequently revisits the tale of selling property to amass Bitcoin, but there are important details that remain vague.
He also doubted whether this property belonged to Zhao or how it was initially financed.
Zhao had previously clarified that he sold an apartment at an approximate price of 900,000 and used the money to purchase Bitcoin at an average price of 600.
Therefore, Xu’s statements question the accuracy of the account but introduce a new challenge to the chronology.
The Conflict over Personal Life
The conflict spread beyond investment claims, with Xu mentioning Zhao’s personal life, including his divorce.
Xu proposed that Zhao might have provided biased information as he crafted a social identity for his financial choices.
Zhao replied by confirming that he had divorced and that he would not disclose legal documents to respect privacy.
He further insisted that his public pronouncements remain valid despite the criticism.
The Escalation and Legal Bet
The situation grew tense when Zhao made a 1-billion-dollar bet to prove his words about the divorce.
Moreover, he even volunteered to undergo legal verification should Xu agree to participate in the bet.
Xu did not accept the strategy and said that such a publicly declared bet was not befitting the leaders of controlled firms.
Therefore, he cast doubt on how such activities would be perceived by regulators of a high-profile exchange executive.
The Wider Context and Ongoing Dispute
The dispute is part of a wider struggle that can be traced back to earlier conflicts over business transactions and accusations.
In addition, Zhao has addressed past allegations in his book and refuted them, citing critics.
Moreover, both individuals continue to clash in the media, and the conflict remains ongoing in the crypto industry.
Therefore, the scenario underscores the ongoing conflict between major exchange executives as competition rises.
