Following the sharing of Xie Jiayin, we delve into the thoughts, feelings, and reflections of Chang Qingshu, the Chinese-speaking head of the exchange.
Written by: Deep Tide TechFlow
Introduction
In the restless world of crypto, there are not many who make you feel as refreshed as Xie Jiayin, the Chinese-speaking head of Bitget.
Since joining Bitget in early 2024, Xie Jiayin has proclaimed the slogan "to create the warmest exchange," actively engaging in the community with a down-to-earth, pragmatic image. In just two years, he has led Bitget from being perceived as a small exchange to becoming one of the top three in the Chinese-speaking market:
User numbers have surpassed 120 million, with a monthly trading volume reaching $750 billion, and it is the first platform to break $10 billion in trading volume for US stock contracts. In discussions about "the exchange app you frequently use," Bitget is increasingly mentioned in the comments.
Behind this rapid growth is the iron-fisted leadership of this "warm-hearted" leader.
About himself, he says:
If I cannot protect users well, then I do not deserve to be the Chinese-speaking head of Bitget. I work about 12-14 hours a day, and I read and respond to every message, genuinely helping users solve problems and protect their interests. Since joining Bitget, I have posted a total of 17,000 tweets, averaging 24 per day, not counting the massive number of private messages I handle regularly.
About the team, he says:
I expect the team to respond instantly as well. If Bitget wants to become the warmest exchange, the team must not evade, shirk, or procrastinate.
After seven years of ups and downs and achieving the important milestone of "fourth globally, third in the Chinese-speaking market," how will Bitget, under the gentle yet firm leadership of Xie Jiayin, establish itself in the new direction of "UEX (Universal Exchange)" and open the next chapter of growth?
In this regard, Xie Jiayin stated:
I hope to soon achieve a transition from "Bitget third" to "Bitget second," and truly stabilize our position in second place. I have ambition, and Bitget has ambition too.
In this issue, let us follow Xie Jiayin's sharing and explore the thoughts, feelings, and reflections of Chang Qingshu, the Chinese-speaking head of the exchange.
The following content is a整理稿 of our dialogue, and the podcast audio version is also available. Feel free to subscribe to "Let's Flow" on Xiaoyuzhou.
Click Xiaoyuzhou link or scan the QR code in the image to listen.
If I cannot protect users well, then I do not deserve to be the Chinese-speaking head of Bitget
Deep Tide TechFlow: I’m glad to chat with you again in this way. I’m actually quite curious about something. It seems that apart from Bitget and a few other exchanges, most other exchanges do not particularly highlight their Chinese-speaking heads, or even do not have this position at all. What do you think is the reason for this?
Xie Jiayin:
This is a rather interesting phenomenon. Since I entered the industry around 2018, I have experienced many platforms and seen various operational models of exchanges. Indeed, most exchanges do not promote their Chinese-speaking heads, or even do not set up this position at all.
This mainly stems from several reasons:
First is the regulatory environment. Since 2017, domestic regulations on the crypto industry have become increasingly strict, leading many exchanges to choose a global layout. Especially for teams with Chinese founding backgrounds, they tend to actively downplay their local labels to expand their business in a more compliant and low-key manner.
Additionally, market strategies differ. Exchanges with Chinese teams inherently carry a Chinese-speaking gene, so there is no need to emphasize a "Chinese-speaking head" to deepen the localization label. However, Bitget is different; we only returned to the Chinese-speaking region around 2023. Although we already have a relatively high profile overseas, we are starting from scratch in the Chinese-speaking market without any first-mover advantage. Therefore, we must have a person and a team to truly connect with users and build trust.
So, in April of this year, I led our Chinese-speaking team to officially debut, aiming to serve users more directly and efficiently, providing genuinely valuable support. Not every exchange has the courage to do this, but for us, it is our sincerity and further highlights our differentiated advantage.
To be honest, I often hear some users give me "misplaced praise." They often say things like "there are many exchanges, but there is only one Xie Jiayin" or "Xie Jiayin is a born BD saint." I actually think this indirectly highlights our differentiated strategy in the Chinese-speaking market, which is that our team, from top to bottom, can achieve a "user-centered" rapid response. I often say that if there are problems, feel free to reach out to me; I can generally be found before 3 AM. For the brand, we will continue to deepen our efforts in the Chinese-speaking region and grow together with the community, which is a significant determination for us.
Deep Tide TechFlow: You should be the evergreen tree of the Chinese-speaking head of the exchange. In your view, what are the main responsibilities of the Chinese-speaking head?
Xie Jiayin:
Once I became a Chinese-speaking head, my work shifted from being responsible for a specific point or sector to a more macro overall perspective, as this position emphasizes coordination and strategy.
I have always insisted on being at the forefront, so my exposure in the community is relatively high, and many people have come to know me and Bitget because of this. This relates to my personality: between being mediocre and being different, I choose the latter. Bitget has become a very important part of my life, and I will do my best to bridge the gap between the platform and users. I often say: Whoever has users must protect them. If I cannot protect my users well, then I do not deserve to be the Chinese-speaking head of Bitget.
When facing users externally, I represent Bitget, but internally, I communicate on behalf of the users. There have been several times during meetings with the tech and product teams where I almost argued with them because I felt their rules were not reasonable and their mechanisms were not user-friendly. Ultimately, these aspects were optimized. I always believe that protecting user interests cannot just be about "what I say," but also about "what Bitget does."
Regarding the responsibilities of the Chinese-speaking head, the most important is* brand building* and marketing promotion. Since I joined, our influence in the Chinese-speaking market has indeed increased significantly. For example, just last night at the gym, several major clients told me that our recent financial products are doing well, and many large clients around them have gradually come to Bitget. A few days ago, I saw data showing that since I joined Bitget, the platform's BTC reserves have grown fivefold, and ETH has increased by more than ten times. This is certainly not just my personal achievement, but this recognition makes me very happy. We are maximizing Bitget's visibility and appeal among Chinese-speaking users through continuous marketing and operations.
On the other hand, community operation and user management are also crucial. I personally have about 1,000 groups in my WeChat, and the information is endless. Although I mostly set them to "Do Not Disturb," as soon as someone @s me, I will check it, trying to confirm whether they are looking for me personally or @ing everyone, and I strive to respond to every message in a timely manner. With more groups and users, it helps me stay at the forefront, hearing feedback and responding quickly, which is very important.
Additionally, ecological construction and business expansion are also core tasks for the Chinese-speaking head. I am currently not only leading the marketing team but also formed a BD team in mid-October, personally guiding them in user acquisition and trading expansion. This includes our pioneering launch of US stock contracts and upcoming new products like gold and forex, which also need to drive market exposure. We will also connect with quantitative institutions and other partners. Overall, it is about promoting the brand's ecological growth from market to business, which is a greater challenge compared to just being responsible for the market before.
Finally, as the Chinese-speaking head, it is also necessary to frequently participate in external PR activities, making some public statements and actively maintaining the platform's reputation, which is also an indispensable part of this position.
Deep Tide TechFlow: As the Chinese-speaking head of the exchange, where does your pressure and sense of achievement come from?
Xie Jiayin:
The pressure is actually quite significant. First, the work intensity of this position is very high:
I generally work 12-14 hours a day, and working continuously like this for a long time can easily lead to burnout, as everyone's energy is limited. I also understand that during downturns in the market, people can be somewhat emotional. For example, I receive a large number of private messages, comments, and complaints on my Twitter and WeChat every day, and occasionally there are some "personal attacks." All of this requires a strong psychological quality to handle in an orderly manner. Additionally, if unexpected events occur, we need to respond and handle them immediately; any delay could trigger a crisis of trust, which is something that must not happen for the platform.
Another source of pressure comes from platform competition: The competition among exchanges is becoming increasingly fierce, especially this year. Today, you may poach my employees and channels, and tomorrow I may take your institutions and major clients. At the same time, many Chinese-speaking users are already industry OGs, and their expectations for exchanges are rising. If we make even a slight mistake, users may switch to other platforms, effectively sending users to other platforms, which brings significant pressure.
Finally, I think personal exposure is also a double-edged sword. As an executive, being too active can easily make you a target. There are all kinds of people in the industry, and being criticized or questioned is common. But that’s okay; as long as I can earn a reputation for the platform, bring in users, and enhance the brand and trading, I think these efforts are worthwhile.
The sense of achievement also comes from many aspects.
What makes me happiest is the recognition and loyalty of users. Many users who once had doubts about Bitget now sincerely support us. Seeing user data continue to grow truly makes me very happy. For example, last quarter, we counted the users across our entire ecosystem, including wallets and exchanges, and the user count has surpassed 120 million, with the exchange's monthly trading volume reaching $750 billion. This is very gratifying, and our goal for 2026 is to exceed $1 trillion in monthly trading volume.
On the other hand, the sense of achievement comes from the growth of the team. I can lead the market and BD teams to rapidly expand the Chinese-speaking market ecosystem, developing channels, VIP clients, institutions, and partners. Every day, you can see changes happening, and I am very happy to witness Bitget grow from a follower to a leading platform with widespread influence.
Deep Tide TechFlow: Everyone who has interacted with you generally feels that you are very approachable and caring. I want to ask what your MBTI is, and does this approachability come from professional requirements or is it inherent to your personality?
Xie Jiayin:
My MBTI is ENFJ, although I don't pay much attention to or believe in it, haha.
I have a very approachable personality. I believe that if you want to stand with users, merely engaging in group chats and posting on Twitter is not enough; you need to genuinely help users solve problems. This is one of my advantages. No matter what I do, I really enjoy thinking from the user's perspective. This may be related to my very ordinary background and upbringing, which allows me to better understand the thoughts and needs of each user.
Additionally, to truly stand with users, you need to have the ability to empathize. For me, I won't prioritize Bitget's interests just because I am the Chinese-speaking head of Bitget. To genuinely help users solve problems and protect their interests, you must earn their trust. Otherwise, no matter how high your position is, it won't matter. This is the fundamental logic of the platform's development alongside its users.
Becoming Top Three: The Chinese-speaking Market and Bitget
Deep Tide TechFlow: Recently, "Bitget Top Three" has become a hot topic for many. What is the standard for this top three? Do you find this to be a very fulfilling achievement?
Xie Jiayin:
Undoubtedly, this is a very fulfilling achievement, although our top three status comes with some controversy. However, based on our real data, genuine liquidity, and our advantages in derivatives, US stocks, AI, and other areas, I can confidently say that Bitget is among the top three in the Chinese-speaking market.
During our development, we have faced some skepticism. For example, in September of this year, we launched the UEX (Universal Exchange) direction during Bitget's seventh anniversary event, and many people questioned it, but the reality is different.
In terms of direction, many platforms, including Robinhood and Binance, are now striving towards the "super app" model, which allows trading of any asset on one platform, thereby capturing all users. This is what UEX aims to achieve. In other words, Bitget's proposal for UEX has no issues in terms of directional judgment and trend grasp; it just depends on who can execute it first and who does it well.
From a concrete performance perspective, we have genuinely delivered results, and users are very pleased. We were one of the first platforms to integrate Ondo. Last week, our daily average trading volume for US stock spot trading exceeded $60 million, accounting for about 73% of Ondo's market share. At the same time, our US stock contracts are the first to break $10 billion in trading volume.
Additionally, our TradFi products are also in the works, supporting contract trading for gold, forex, and ETFs. Currently, we are opening it to a very limited number of users for experience, and we expect to fully launch in January 2026. In terms of product innovation, we are still very efficient.
Deep Tide TechFlow: After achieving the "Bitget Top Three" milestone, what future measures will Bitget take to deepen the impression of "Bitget Top Three" or help Bitget become a more top-tier presence?
Xie Jiayin:
I once tweeted that Chinese-speaking users are truly loyal; they are willing to stick with a platform where they have made money. To this day, I still believe this statement is very true.
Many users' impressions of exchanges are still stuck in the era of the old top three (Binance, OKX, and Huobi), overlooking the fact that many later platforms have caught up and even excelled in certain areas. When we first entered the Chinese market in 2023, many people viewed us as a small exchange. We needed to not only compete with the larger exchanges but also with other smaller ones. Although it was challenging, we had to make our mark in the Chinese-speaking market, so the question became whether we dared to take action.
To this end, we have made a lot of efforts, such as signing Messi and collaborating with La Liga, all to show Chinese-speaking users that Bitget is actually quite good and has performed well overseas. The Chinese-speaking market is not just about Binance and OKX; there is also Bitget. Everyone's habits can change, and I hope more people will come to experience Bitget.
I believe that a brand is essentially a perception. It's like the first impression between people or the collective recognition users have of a product. This perception will gradually change over time and will eventually align with reality. For example, you may have always thought of Bitget as a small exchange, but as time goes on, you will definitely feel that Bitget truly deserves to be among the top three in the Chinese-speaking market.
Looking to the future, we will continue to promote several initiatives:
In terms of the market, we will launch more product activities, such as the recently launched TradFi and the US stocks introduced two months ago, which will bring us tangible user growth.
In terms of branding, we will strengthen collaborations with quality content creators, continuously produce content, enhance exposure, and actively participate in industry summits. For example, at next year's Consensus and Token2049, we will not only attend but also host our own peripheral events, continuously reinforcing Bitget's influence in the Chinese-speaking region.
10 Points of Wolfishness Behind Creating "The Warmest Exchange"
Deep Tide TechFlow: You are very active on Twitter. Are all these tweets from you? Have you ever counted how many X messages you have replied to since joining Bitget?
Xie Jiayin:
I did a count. Since I joined Bitget on January 2, 2024, my Twitter replies combined with my own posts total about 17,000, averaging around 24 per day. This frequency is very high, and this is just public responses, not counting the massive number of private messages I handle regularly.
However, I don't set a fixed time to handle Twitter messages every day. In my daily life, I occasionally check Twitter. For me, looking at Twitter is a very natural and effortless thing. For example, I might check it during meetings or while drafting plans. This might be one of my advantages; my energy allows me to do different things simultaneously, haha.
Deep Tide TechFlow: Many people think of Bitget as similar to Huawei. If you were to rate your wolfishness from 1 to 10, what score would you give yourself and why?
Xie Jiayin:
I would definitely give myself a 10. I am essentially a competitive person, but my competitiveness is not aimless, nor do I force others to bear the burden. Everyone has limited energy and works hard. My wolfishness is genuinely aimed at performance. For example, when leading the BD team, if a demand arises suddenly at one or two in the morning, I will immediately address it, quickly create a group, and arrange for BD to connect.
I set a standard for myself to respond instantly, so I also require the BD team to respond immediately. The BD team I lead is mostly new; some have briefly worked at other exchanges, and some have never been in the crypto space at all. However, my management style and effectiveness have been quite good, and the few BD members I personally lead are performing well.
Deep Tide TechFlow: Since you joined, we have seen you share various services from Bitget on Twitter, such as previous new offerings, VIP services, and the recent U card. What do you think Bitget has done right to sustain its development, and what areas need improvement?
Xie Jiayin:
I will soon have been with Bitget for two years, and during this time, I have felt genuinely proud of Bitget. We have gradually transformed from a striving follower to one of the leading platforms today. This journey has not been easy, and it is backed by solid efforts.
While everyone sees me in the spotlight, the real support for Bitget comes from the partners who work day in and day out to refine products and serve users. Our entire team has about 2,200 employees.
Behind our rapid growth, we have excelled in many areas. I have always emphasized that we provide what users need, which is why we have successively launched products like US stocks and TradFi. Additionally, since July of this year, we have been vigorously expanding our institutional business and VIP services, and the market response has been very positive. Currently, our VIP client loyalty is quite high, with many willing to keep their assets and major trades on Bitget. Among institutions, about 90% of the well-known ones you know have become our clients.
Of course, we also have many areas that need improvement. I have always believed that there are no perfect people or perfect exchanges. The development of exchanges is quite similar across platforms; it involves moving forward while facing criticism. We certainly have had instances where we did not handle certain matters appropriately, but I believe our most valuable trait is that we can promptly identify problems and correct them. When facing criticism, we must stand tall and show our attitude first, allowing users to see that this is a platform that values credibility and responsibility.
In April of this year, when I led the team out, I stated that we want to be "the warmest exchange." What does it mean to be warm? It means not evading, not shirking, and not procrastinating. When users and channels reach out to us, we must respond instantly and be available at all times. As long as we persist in doing these things well, our position in users' hearts will gradually improve.
Deep Tide TechFlow: Can you share some of the major initiatives you have led or promoted since joining Bitget? This can include aspects related to products or the market.
Xie Jiayin:
First of all, I am very proud to have built a very excellent marketing team. Our entire Chinese-speaking market team consists of only six people, yet we have achieved industry-recognized levels. Not only is the market feedback good, but even competitors have praised us behind the scenes and have attempted to poach our talent. However, since this is a team I have nurtured, it won't be easy to take them away. Additionally, I have also formed an excellent BD team, which is still small in scale, but we welcome recommendations for outstanding talents.
Another area where I believe we have done well is significantly enhancing Bitget's presence among Chinese-speaking users. Now, when people mention Binance and OKX, they often also think of Bitget, which is the result of our efforts to be seen.
Recently, when a fire occurred in Hong Kong, I led Bitget's donation efforts, and we donated a total of 12 million to three different organizations, each focusing on different areas of assistance: some provided post-disaster psychological counseling, some addressed basic living needs, and others offered economic compensation. We hope to genuinely help those affected through more precise means. Many users have also provided feedback, feeling that Bitget has done a very tangible job in this regard.
Since joining Bitget, I have always emphasized "walking with the community and resonating with users." In my heart, users are always the top priority. The most impressive event for me was the pump.fun new offering incident in June, which I led. During the process, many people were unable to participate, and the quota was completely allocated within the first 10 seconds. At that time, I was on a business trip in Thailand, and upon landing, I realized something was wrong. I felt that handling it in the original way would definitely not work. So, I spent more than five hours continuously monitoring community feedback, following up from around 11 or 12 at night until 4 or 5 in the morning. By 6 or 7 in the morning, before work hours, I urgently convened a meeting with the product and operations teams to decide to push forward with the Sunshine Plan and immediately began calculating the quota that could be allocated to each person.
However, many details could not be announced to the community before they were finalized, so before we officially announced it at 4 PM that day, we faced a lot of criticism. The funniest part was that I posted a moment on social media saying I had been paying attention to the community, but the accompanying picture was one of me hanging out with friends in Kuala Lumpur a week prior. Many people criticized me, questioning whether this was what I meant by seriously listening to the community. Of course, in the end, the situation was perfectly resolved, and we gained everyone's recognition. This further illustrates that through these small accumulations, Bitget's brand influence among Chinese-speaking users will continue to grow.
Persisting in Long-termism is the Only Way to Achieve Real Results
Deep Tide TechFlow: As you are about to enter your third year at Bitget, what are your work and life goals for the next stage?
Xie Jiayin:
In terms of work, I hope to soon achieve the transition from "Bitget Third" to "Bitget Second," and truly establish a solid foothold in the second position. This is a major goal for us, and more specifically, I hope our monthly trading volume will soon break the trillion-dollar mark. I have ambition, and Bitget has ambition.
In my personal life, I can't think of anything specific at the moment because my life and work have merged together. In the Chinese-speaking region, Xie Jiayin represents Bitget, and Bitget represents Xie Jiayin. So sometimes I come across comments saying that I am a good person, but Bitget is not doing well. Initially, I would feel this was a recognition of me, but now it feels a bit uncomfortable. My thought is simple: I represent Bitget, and if Bitget is not doing well, then it means I have not done my job properly.
Deep Tide TechFlow: Let's talk about a lighter topic. It is said that you received a year-end bonus equivalent to 50 months' salary last year. How many months of year-end bonus do you predict you will receive this year?
Xie Jiayin:
For me, the year-end bonus is more like a footnote to the results rather than the goal itself.
If I were to express an expectation, I hope to see a "not bad" number in Deep Tide's news.
Deep Tide TechFlow: One last question. You mentioned that the market has turned bearish. Can you elaborate on your views? Do you think the crypto industry is currently in a bear market or a bull market? How do you view the future of the crypto industry?
Xie Jiayin:
I remember around 2010 when the concept of mobile internet emerged, and it wasn't until around 2014 that mobile internet truly took off, as smartphones began to become widespread, leading to the emergence of various mobile games, apps, and ecosystems. Before 2010, the internet was in the web era, and people were still using Nokia phones. In my view, the crypto industry is still in the internet era of 2000, and it is still a decade away from the mobile internet era.
I entered the crypto space around 2018, when mainstream media and public perception were still critical of the crypto industry. However, over the years, the value of crypto has been validated, with many countries, including the United States, vigorously developing crypto. This proves that good things can withstand the test of time, just as Bitget will also be validated by history.
I also encourage young people to join this industry; it is definitely thriving. I stumbled into this industry in 2018 without any prior knowledge of crypto, being a complete novice, and I can be considered as having emerged from the grassroots era into a formal player.
At that time, the blockchain industry had a very low entry barrier. Whether you were a flyer distributor, a real estate agent, or a pharmaceutical representative, you could join in and try issuing tokens or starting projects. Eight years later, the industry has become increasingly regulated and professional. Many graduates from prestigious universities are now eager to enter this industry, and young people have recognized its prospects and opportunities, which is a very positive trend.
As for the market situation, last night, the price of Bitcoin was around $86,000. Short-term prices don't really indicate much. You have to remember that over a decade ago, Bitcoin was virtually worthless, and now, no asset can outperform Bitcoin. I believe these trends are part of the evolution of the times; the market has its cycles, and a short-term bear market doesn't signify much. Persisting in long-termism is the only way to achieve real results.
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