OKX Throws Shade at Coinbase, Says ‘Broken’ System Needs a ‘Rewrite’ Not an Update

OKX, a platform for trading cryptocurrencies, has recently launched a new advertising campaign that directly targets its competitor, Coinbase.

Despite the fact that Coinbase stated in an advertisement campaign just a few short months ago that “It’s time to update the system,” the company has now updated its platform. OKX is now suggesting that we should forget about that and instead propose that “The System Needs a Rewrite.”

Since the publicized failure of the cryptocurrency exchange FTX, which occurred in the midst of a number of other scandals and liquidity difficulties, leading platforms such as Binance, Coinbase, and OKX have been making efforts to portray themselves as a reliable choice for investors. Additionally, trading volumes have decreased, which has led to an increase in the amount of competition for clients.

OKX claims to be the second-largest cryptocurrency trading platform in the world, with more than 50 million members across the globe. Binance is the most popular cryptocurrency exchange with over 100 million registered users.

The most recent sixty-second commercial released by OKX poses the question, “Why don’t we change everything?” in response to a “broken” system and “broken” methods of conducting business.

After several months of uncertainty and disarray, the value of important cryptocurrencies like Bitcoin and Ethereum has largely recovered. However, in recent days, memecoins like Pepe have been dominating headlines, which has led to at least some trade volume being generated

The self-referential advertising that OKX ran last year, which begged the question, “What Is OKX?”, has been replaced by a whole new marketing effort that symbolizes a sharp pivot.

OKX has been successful in keeping collaborations with well-known businesses such as Manchester City Football Club and McLaren’s Formula 1 racing team, despite the negative reputation that has been attached to cryptocurrencies.