Star Xu On the Chinese Community: Calling for Industry Respect, and Discussing OKX's Future

This speech focused on the technological evolution, application development, regulatory trends in the blockchain industry, and OKX’s strategic plans for the coming years. Star Xu analyzed the evolution of blockchain from Bitcoin to Ethereum and multi-layered applications, emphasizing technological innovation and the younger generation’s increasing recognition of cryptocurrency. He also discussed the changing attitudes of regulatory bodies towards the crypto industry and how OKX is positioning itself in the global market, expanding its technology and payment services. Additionally, Star Xu shared OKX’s future plans, particularly in cross-chain assets, Web3 wallets, and stablecoins. He stressed the importance for industry practitioners to pay more attention to the reputation of the industry and avoid over-reliance on short-term speculative investment strategies.

Below is the transcript of Star Xu’s video speech, with the audio transcription done by GPT. Please note that there may be errors, and some parts have been shortened for smoother reading.

Reviewing the Development of the Crypto Industry and OKX

The Crypto and blockchain industry has evolved significantly since Bitcoin’s inception in 2008, marking over 15 years of development. OKX was founded in 2012, and it’s now nearing 14 years of operation. Looking back, we initially saw Bitcoin as something akin to a “game token” and didn’t fully realize the immense potential blockchain and its applications would have. At that time, we couldn’t foresee the evolution of regulation or the direction of blockchain’s growth. Initially, Bitcoin’s use in blockchain was limited to issuing tokens, but the introduction of Ethereum expanded blockchain’s scope beyond just tokens, enabling the execution of smart contracts, making Ethereum the “operating system” of blockchain technology.

After years of collective efforts, including OKX’s significant role in the Ethereum ecosystem, Ethereum has now become the main platform for Dapps. Many financial-grade applications will be built on the Ethereum blockchain in the future. Meanwhile, other high-performance blockchains like Solana are also developing, and although OKX’s XLayer project hasn’t met expectations initially, the team is continuously working hard. I believe XLayer will ultimately succeed.

Regulatory Changes and the Rise of the Younger Generation in the Blockchain Industry

As the blockchain industry has developed, regulatory bodies have gradually increased their attention to the sector since 2017. Initially, regulators held a negative view of the crypto industry, perceiving Bitcoin as a tool for money laundering and crypto as a breeding ground for illegal activities. However, after several years of development, two core trends have emerged.

First, the claim that Bitcoin is primarily used for money laundering is baseless. Only a small portion of Bitcoin is used for money laundering, while money laundering also occurs in traditional financial institutions such as banks. The real problem lies in the misuse of Bitcoin and crypto assets, which is a challenge faced by every industry. The key is how to manage it effectively. As regulators have gained more understanding, it has become clearer that illegal activities within blockchain and Bitcoin usage are minimal. Most activities are actually driving a more globalized, open, fair, and transparent financial system.

The second trend is the increasing adoption of Bitcoin by the younger generation. For many young people, especially those born in the 90s, 95s, and 00s, Bitcoin has been a part of their lives from an early age. For instance, my child asked me what Bitcoin was several years ago, and back then I didn’t give it much attention, but now, when he asks me, I explain it in detail. For people of my generation, if asked where to keep their money safely, I might say a large bank like JPMorgan. However, for younger generations, they are more inclined to use crypto wallets like OKX Wallet, believing that crypto, stablecoins, and Bitcoin are safer and more convenient. Nowadays, our stablecoin products offer yield, which further strengthens their trust in crypto assets.

Regarding the security of stablecoin custody, our self-custody model has no risk of “running away” because users can back up their private keys and transfer funds at any time. As for our custodial model, despite facing criticism and challenges over the years, our exchange business has strengthened its governance structure and global licensing system, allowing us to take on increasing responsibilities. For example, during the market crash on October 11, despite causing significant impact on other platforms, our system remained very stable, and our customers suffered almost no losses due to system issues.

As the crypto industry matures, both regulatory pressure and support coexist. Over the past four to five years, there has been a push from U.S. regulators to suppress the industry through stringent measures. However, with around 100 million Bitcoin users in the U.S., who also have voting power, the Republican Party saw this trend and decided to support the development of crypto. This resulted in a historic victory for crypto in the U.S.

This victory in support is reflected not only in the Republican Party’s success in elections but also in the rise of the crypto industry. Starting in the U.S., the trend of supporting crypto has rapidly spread worldwide, with countries and regions like the UK, EU, Japan, and Singapore gradually embracing crypto as mainstream.

What I want to emphasize to everyone is that in this industry, you should not overly focus on short-term price fluctuations. Extreme bubble-type tokens may bring high leverage, but they also come with significant risks for investors. If you continuously rely on such extreme volatility for investment, you may ultimately face losses. What truly matters is whether you can steadily benefit from the industry in the long term, especially from mainstream assets like Bitcoin. Each year, review your investment strategy and ask yourself: How much return have you gained from Bitcoin’s growth? What is your strategy moving forward?

Star’s Holding Strategy: Bitcoin, Ethereum, and OKB

If you haven’t seized the development trends of the industry in the past, you may have missed out on many opportunities. I believe some of you might have made good profits from speculative projects, but more people should be thinking about their future holding strategy. What will you do moving forward? I suggest you hold BTC, Ethereum, and OKB as your core asset allocation.I suggest you hold mainstream assets like BTC, Ethereum, and OKB, as these should be part of your basic asset allocation. If you don’t hold these assets, you’re not only not a qualified KOL, but you’re also not a qualified member of the blockchain industry. You might complain that last year you bought 100,000, and now it’s only 90,000, a loss of 10,000. But don’t over-focus on these short-term fluctuations. You need to trust the industry, Bitcoin, and platforms like OKX. If you can ignore short-term price movements and focus on long-term growth, you will truly benefit in the future. There’s no such thing as getting rich overnight-successful investing requires patience.

First, there are a few key trends you need to pay attention to:

1. The development of blockchain technology, from the early days of tokens to DApps, and now more applications for real-world assets (RWA).

2. The growth of the younger generation, who increasingly view Crypto as safer and more trustworthy than traditional finance.

3. The global support from governments and regulators for Crypto, which is clarifying the industry’s growth trajectory.Based on these trends, you should plan a holding strategy for the next 5 to 10 years. This isn’t about focusing on daily price movements; it’s about having a solid investment mindset. Like I’ve said before, if you don’t have 10 BTC, you might not fully understand the value of this industry and will miss out on the returns in the coming years. You might laugh at me now, but I believe you’ll thank me for this advice in a few years.

I once had a partner who entered the Crypto industry in 2014 with only a few million RMB. He spent some time in prison, but when he got out, he became a billionaire and even wanted to gift me a Ferrari, which I declined (laughs).

In the Crypto industry, just like your parents told you about establishing a foundation for your life, the same applies here. If you don’t have enough Bitcoin, Ethereum, and OKB, it’s like being a migrant worker with no solid foundation. Only when you hold these foundational assets can you truly establish yourself in this space.

So once you have enough BTC, don’t let external noise distract you. The market’s short-term fluctuations and other people’s emotions might cause you to hesitate, but if you have firm belief and a long-term plan, you’ll realize that these noises won’t impact your investment strategy.

I hope you can see the trends in this industry and not let short-term volatility or distractions affect you. Each of you has your own opportunities-don’t get sidetracked by irrelevant information. Choose your holding strategy wisely, stick to it, and in the future, you will be grateful for the decisions you made today.

Star’s Call: Jointly Protecting the Industry’s Reputation and Earning External Respect

Building on what I’ve discussed regarding the industry’s development, technological evolution, application expansion, and regulatory changes, if each of you holds mainstream assets like Bitcoin, Ethereum, and OKB, I hope you’ll cherish and respect this industry. The Crypto industry today is no longer what it once was. Last year, during an event, I reminded everyone to respect ourselves and stop using terms like “fraud zones” to describe our industry’s activities. Today, these words are no longer in use, which shows that people are beginning to realize their responsibility within the industry.

Over the years, the blockchain industry has been belittled, criticized, and even attacked. In addition to the natural stages of industry development, one major reason for this is the irresponsible statements made by some industry leaders. These statements misled many and led people to use frivolous language to describe our sector. Terms like “100x coins,” and “all-in” create a distorted image of our work. When you describe your industry in this way, how do you think your government and regulators will view it? Meanwhile, on the other side of the world, stablecoin legislation is moving forward, and many crypto companies are listing on the NYSE. The Crypto industry is steadily entering the mainstream and gaining the respect it deserves.

For those of you in the Chinese-speaking community, assuming you hold 10 BTC, if you still use terms like “fraud zones” to describe our industry, you are actually damaging both the industry’s reputation and the value of the assets you hold. In many parts of the world, Crypto is already mainstream. Crypto professionals, including all of you, now stand on the same level as professionals in AI, autonomous driving, and other industries. However, in the Chinese-speaking community, there are still people who undermine themselves with extreme language. This not only harms the image of the industry but also hinders its overall development.

I want to say this: in this industry, you not only need to make money, but you must also earn respect. Otherwise, the money you earn might be confiscated, and the industry’s reputation could be damaged. Compared to P2P companies and real estate firms, at least we haven’t deceived ordinary people, nor have we left unfinished buildings. But even then, we still haven’t gained the respect we deserve. Respect must be earned, not given. You must defend the reputation of this industry through your actions and words. Only then can the industry earn true respect, and you can move from being seen as a “new rich” to being recognized as a leader in the field.

I’ve had friends who failed in other industries approach me, asking for investment to transition into Crypto. Honestly, if you failed in other industries, how can you expect to succeed in Crypto? This mindset of switching careers is fundamentally flawed, yet some people come to me confidently asking for investment. I find it hard to understand.

Therefore, I sincerely urge everyone: we need to jointly protect this industry’s reputation. We are a technology-driven sector, dedicated to making the world more transparent and better. Through blockchain technology, we are addressing inequities and improving financial services. Each KOL and professional in the industry must work together to earn respect for the industry and safeguard our reputation. Whether it’s the leading companies or every individual in the space, we all share the responsibility of maintaining the image of this industry, ensuring it develops healthily and sustainably.

OKX’s Product Development Plan for 2026

Based on our observations of the overall industry development, including technological advancements, application expansions, and regulatory and political changes, OKX aims to make significant progress in multiple areas by 2026. We plan to expand beyond our exchange business, similar to the sports derivative exchanges we once admired, and move into additional fields. These include, but are not limited to, traditional trade finance (tradeFi), stock trading, and even emerging services like prediction markets. In short, we intend to offer a more diverse, user-friendly, and convenient trading service within the global regulatory framework.

At the same time, OKX will focus on developing more blockchain-based asset products. For example, we have already launched xBTC, and in the future, we will introduce more similar assets, bringing even more assets onto the blockchain, including cross-chain assets and real-world assets (RWA). We also plan to further develop OKX’s XLayer and Web3 wallet, making them multi-asset carriers and providing users with easier access to on-chain asset management. This will be our second focus area.

In addition, OKX Pay, which was launched last year, has received mixed feedback from users-some positive and some negative-but we will continue to upgrade the product. Currently, we have integrated with local banks in several countries, including Brazil, Europe, and Singapore. While it’s uncertain whether we can offer the service in the Chinese-speaking region, we will continue to improve the product. In the future, we aim to launch an even more user-friendly Web3 wallet. Through this wallet, we hope to simplify the user experience, making it easier to use while enabling payments and transfers between merchants and friends. If users need to transfer assets to blockchains like Arbitrum, we will offer intelligent services to ensure a secure and efficient payment process. We envision OKX Pay becoming a gateway for billions of users to manage their assets, providing a simplified service, especially for newcomers to blockchain.

In 2026, OKX will further focus on the development of these three product areas.

Another crucial aspect is our partnerships. OKX has remained low-profile in some areas in the past, but moving forward, we will place greater emphasis on engaging with our partners and fostering relationships. Whether you are a KOL, a partner, a marketing affiliate, or an affiliate program participant, we want to respect you and explore more win-win cooperation models. For KOLs, we will provide better KOL programs; for affiliates, we will launch more competitive affiliate programs; and we will establish a more professional customer service team to provide one-on-one communication channels to ensure that your feedback and suggestions are heard promptly. If you have any feedback, whether it’s concerns about us or areas where we can improve, we encourage you to reach out. We will collect feedback through your relationship manager and strive to improve. We also plan to implement service level agreements (SLAs), ensuring that customer feedback will be addressed within 24 hours, 48 hours, 72 hours, or within 7 business days.

For more fundamental changes or issues related to our company’s operational principles, we will regularly engage with our partners to ensure we can continuously improve and enhance our services.

OKX’s Core Strategy: The Continued Development of OKB and X Layer

Finally, I want to talk about OKX’s core strategy, particularly the ongoing development of OKB and X Layer. Many people ask me why OKX doesn’t engage in some short-term, quick-money tactics like some other projects, such as pumping tokens or launching Meme coins to attract attention. I understand where these questions are coming from, but I want to remind everyone that when you earn 10x returns on some platforms, only a few people are actually making real profits, and many others may be losing money. Moreover, these short-term massive profits often come with huge risks, and most people end up losing everything.

For OKX, we have many advantages. First, we hold regulatory licenses from major countries like the U.S., the EU, and Singapore, which provides us with a legal and compliant foundation. Secondly, from a business perspective, we don’t want to engage in short-term, highly profitable activities that might ultimately harm both users and the industry. For example, many people ask me why we don’t heavily promote Meme coins or pump certain tokens. I do not support this approach. While we welcome cooperation with Meme coin communities, we do not want to participate in market manipulation or excessive speculation. We’re not interested in projects where only a few people profit from speculation, while the majority end up losing.

I’ve seen many people earn huge profits from 100x coins, but they ultimately couldn’t hold onto that wealth because they constantly sought to replicate short-term successes. We take a more cautious approach in this regard. However, for OKX, the development of X Layer and OKB will never stagnate. Some people ask me if OKX will stop working on OKB once we go public. That’s completely false. OKB and X Layer are core components of OKX’s strategy and are crucial to our growth.

X Layer has been on the periphery in the past, but since last year, we’ve moved it to the center. Regardless of whether OKX goes public, X Layer will remain a fundamental part of our infrastructure. Our goal is to increase the Total Value Locked (TVL) on-chain from its current $500 million to $5 billion or even $10 billion. X Layer will support OKX’s exchange, OKX Pay, wallets, and other services, becoming the critical infrastructure for them. At the same time, OKB, as the ecosystem token and gas token for X Layer, will continue to play an essential role.

Therefore, OKX will never abandon X Layer and OKB. They are integral to our strategy. As the Crypto and blockchain industry evolves, X Layer and OKB will continue to support OKX and propel us to a leading position in the industry.

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