On January 14, 2025, the "OKX New Year's Dinner" event officially opened in Da Nang, Vietnam. The "OKX New Year's Dinner" is a special event for industry builders hosted by OKX in Da Nang, Vietnam. This event focuses on core topics such as OKX's latest product planning, analysis of industry hotspots, and sharing of insights, aiming to provide a platform for in-depth communication and idea exchange for global cryptocurrency enthusiasts as we welcome the New Year.

OKX CEO Star attended the event via video link and delivered an impromptu speech, conveying profound reflections on the development of the industry and future prospects.

Below is the full text of Star's speech (edited):

I am very pleased to see everyone via video. Many of you are my old friends, and there are also many who are online acquaintances. Welcome everyone from afar to participate in OKX's event.

1. The "Crypto Circle" Should Not Be Considered a Pejorative Term; The Future of the Crypto & AI Industry is Promising

I have been in the Crypto industry for over a decade and have witnessed the changes in people's perceptions of Bitcoin and the crypto industry.

Let me give an intriguing example: Many people translate our industry's English term "Crypto industry" into the Chinese term "币圈" (coin circle). If "Crypto industry" is a positive term, carrying connotations of technological innovation and economic empowerment, then "币圈" seems more like a neutral term. In reality, many people even assign a pejorative connotation to "币圈." For instance, someone who fails in entrepreneurship and then enters the crypto industry to start over might be labeled as "this person has now gone to the coin circle."

This semantic gap coexists with public prejudice against the industry, which is a pressing issue that the crypto industry needs to confront. In my view, "币圈" is no different from "car-making circle," "mobile phone circle," "live-streaming circle," and so on. Each of us working in the "币圈" should hold ourselves to high standards in our words and actions to break and reshape public perceptions of the crypto industry. When the core of technology is simplified to labels of speculation and hype, the long-term value of industry development can easily be misunderstood or overlooked. This prejudice is not accidental; it is the result of complex social, economic, and cultural factors intertwining.

After delving into the crypto industry for decades, I have come to realize that the crypto industry is a technology-driven, innovative, and vibrant sector that enjoys global regulatory support. Crypto & AI will become one of the best industries for commercial technology development in the next decade.

Therefore, I want to call on everyone that to maintain the reputation of the "币圈" or "crypto industry," we need to start with our own words and actions, respect our fellow practitioners, and ultimately build ourselves into an innovative, technological, and transparent industry.

2. OKX's Token Listing and OKB are Being Built with High Compliance Standards

In 2024, OKX achieved many remarkable accomplishments globally. However, I want to focus not on boasting about achievements but on candidly analyzing OKX's shortcomings and issues.

Many people describe OKX as a "different" or even "self-righteous" company, and this evaluation is particularly evident in OKX's Token Listing. Compared to the asset listing models of other platforms, OKX maintains a highly restrained attitude in asset selection; we can say that we are very non-aggressive.

In our view, listing is a process of discovering quality assets, but when we cannot assess the quality of an asset, we would rather choose not to recommend it to users. This cautious choice often makes us appear "hesitant" and has sparked controversy over our conservative style.

Behind this caution is not only a deep consideration for user interests but also OKX's adherence to its "corporate DNA" and "values." Although this attitude may lose some market competitiveness in the short term, in the long run, this restraint provides a more solid foundation for the healthy development of the industry. We also acknowledge the successes of other platforms in this regard, but different companies have different "corporate DNA" and "values." OKX is learning and improving to balance the tension between user needs and corporate values.

Another controversial topic is OKX's platform token OKB. In the industry, many companies choose to boost token prices through short-term means to stimulate market enthusiasm, but we never predict the price of OKB, nor do we adopt short-term boosting strategies. I want to say that OKB is like the long-term value philosophy of Bitcoin; looking back at the past, the seemingly exorbitant prices of $1,000 or $10,000 for Bitcoin now seem really cheap.

We are responsible to our users, which is also a respect for the overall compliance environment of the industry. The highly regulated nature of the crypto industry means that price predictions may involve compliance risks. Therefore, OKX prefers to increase the intrinsic value of OKB by promoting actual use cases and enhancing transparency, such as in the future, we will promote the construction of the X Layer public chain and clearly and publicly display the amount of OKB held by OKX.

OKX's future development will continue to adhere to restraint and caution, respect rules and take responsibility, and promote the symbiotic development of technology and ecology. OKX will not only continue to optimize technology and products but will also adopt a more open mindset to listen to market feedback and work with industry partners to build a more transparent, fair, and sustainable crypto ecosystem.

In the future, OKX hopes to reverse the external stereotype of us as "distant from the common people." I hope to start with myself, learn, grow, and develop together with partners, ultimately making the crypto industry a field centered on technological innovation and value-driven principles, rather than a market hijacked by short-term interests.

3. Diligently Focusing on Products, Enjoying the Dividends of Industry Development

In the past many years, I have not known any fund that could outperform Bitcoin in profitability. Industry participants should be wary of the superstition surrounding the "wealth code"; the dividends of industry development are the biggest opportunity. I joke that "if you don't have 10 Bitcoins, don't call yourself a KOL. If this is the standard for industry practitioners, I believe the industry won't disappoint us."

The market size of Bitcoin is currently only one-tenth of the gold market, but the inflow of funds into Bitcoin ETFs has surpassed that of gold ETFs. This phenomenon not only validates the value of Bitcoin but also indicates that the future development potential of the industry could be a hundredfold. Establishing a consensus on the holding and understanding of Bitcoin is a basic threshold for industry practitioners and investors.

The value anchoring of Bitcoin and the ecological potential of Ethereum are the dual engines driving long-term growth in the industry, but this does not represent investment advice. One could say, "Always have Bitcoin within your acceptable investment range; participating in the industry is a sense of achievement."

Now, returning from the grand narrative of Bitcoin to the reality of the industry, OKX has achieved considerable success in recent years. In addition to developing Web3 wallets and exchange products, we have a "secret business line" that will be launched in February this year. The current products are not entirely satisfactory and are still being refined. I hope that in the future, this OKX product can truly integrate into users' daily lives, covering multiple countries globally, allowing users to experience seamless service. Especially now, OKX has obtained licenses in many parts of the world and has connected local bank cards. This product will directly address the core pain points of the industry—such as the smoothness and convenience of global deposits and withdrawals—and achieve more technological innovations.

Thank you all.

Disclaimer

This content is for reference only and does not constitute or should not be viewed as (i) investment advice or recommendations, (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. We do not guarantee the accuracy, completeness, or usefulness of such information. Digital assets (including stablecoins and NFTs) are subject to market fluctuations, involve high risks, and may depreciate or even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. Please consult your legal/tax/investment professionals regarding your specific circumstances. Not all products are available in all regions. For more details, please refer to OKX's terms of service and risk disclosure & disclaimer. The OKX Web3 mobile wallet and its derivative services are subject to separate terms of service. You are responsible for understanding and complying with applicable local laws and regulations.

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