What was originally a routine announcement from the global exchange quickly escalated into renewed debate over one of crypto’s longest-running executive feuds, and accidentally placing the Philippines squarely at its center: On one side is Binance founder Changpeng “CZ” Zhao, who is attempting to formally re-enter Southeast Asia’s fastest-growing crypto market. On another is former Binance Chief Financial Officer Wei Zhou, who now leads Coins.ph, the country’s largest and first licensed cryptocurrency exchange. Completing the triangle is OKX founder Star Xu, whose latest public criticism of Binance has reignited years-old tensions involving both executives. Here’s how it is currently playing …