OKX throws shade at Coinbase, says ‘broken’ system needs a ‘rewrite’ not an update

Cryptocurrency trading platform OKX is taking a shot at rival Coinbase with its latest advertising campaign.

While Coinbase declared only a couple months ago in an ad campaign, “It’s time to update the system.” OKX is now saying scratch that, positing instead, “The System Needs a Rewrite.”

Ever since the high-profile collapse of crypto exchange FTX amid various other scandals and liquidity crises, top platforms like Binance, Coinbase and OKX have attempted to cast themselves as the safe option for investors. Trading volumes have also dropped, leading to increased competition for customers.

OKX wants to "change everything"

Rebuking a “broken” system and the “broken” ways of doing business, OKX’s latest 60-second commercial asks the question: “Why don’t we change everything?”

After months of confusion and chaos, key cryptocurrencies like bitcoin and ethereum have rebounded significantly. In recent days, however, memecoins like pepe have dominated headlines, spurring at least some trading volume.

OKX’s new marketing campaign represents a decisive pivot from last year’s self-referential promotion which begged the question, "What Is OKX?"

Despite crypto’s tarnished name, OKX has succeeded in maintaining partnerships with well-known brands like Manchester City Football Club and McLaren’s Formula 1 racing team.