OKX Faces Legal Team Shake-Up as Global General Counsel Exits Post-DOJ Settlement

Melissa Muehlfeld, the global general counsel of cryptocurrency exchange OKX, has departed from the company amid a restructuring of its legal and compliance teams. This exit follows a series of high-profile departures within OKX’s legal department, which came after the exchange reached a $500 million settlement with the U.S. Department of Justice earlier this year. Muehlfeld initially joined OKcoin, OKX’s U.S. subsidiary, in May 2022 as deputy general counsel before being promoted to her global role. Her departure underscores ongoing challenges for OKX as it navigates regulatory scrutiny and internal reorganization. The settlement and subsequent leadership changes highlight the increasing pressure on crypto exchanges to comply with evolving legal standards. As of May 2025, OKX continues to adapt its legal strategy in response to these developments, aiming to strengthen its compliance framework and maintain its position in the competitive cryptocurrency market.

OKX Global General Counsel Departs Amid Legal Team Restructuring

Melissa Muehlfeld, global general counsel of cryptocurrency exchange OKX, has left the firm. Her departure marks the latest in a series of high-profile exits from the exchange’s legal and compliance teams following a $500 million settlement with the U.S. Department of Justice earlier this year.

Muehlfeld joined OKcoin, OKX’s U.S. subsidiary, in May 2022 as deputy general counsel before being promoted to her global role in August 2024. The exchange has since appointed Linda Lacewell, former head of New York’s financial regulator, as chief legal officer to oversee the restructuring of its legal operations.

OKX Delists 11 Trading Pairs Including USDT/USDC in Strategic Overhaul

OKX, one of the leading cryptocurrency exchanges, has announced the delisting of 11 spot trading pairs, with the removal of USDT/USDC drawing particular attention. The decision, effective next week, comes amid the exchange’s aggressive U.S. expansion, which includes securing licenses in 47 states and establishing a new headquarters in San Jose.

The delisted pairs include ZERO/USDT, ZERO/USD, PRQ/USDT, PRQ/USD, IQ/USDT, IQ/USD, ARTY/USDT, ARTY/USD, SAMO/USDT, and SAMO/USD. OKX cited a routine review process aimed at maintaining market health, though the rationale behind axing the widely used USDT/USDC pair remains unclear. The exchange noted increased volatility, dwindling liquidity, or poor performance as contributing factors.

Market participants are left speculating. USDT/USDC has long served as a critical liquidity bridge between stablecoins, making its removal unusual. The MOVE underscores OKX’s balancing act between scaling its U.S. operations and tightening internal controls.