On January 24, 2026, Star, the founder and CEO of OKX, attended the "New Year's Eve Dinner" event via video link, sharing his latest thoughts with sincerity. The OKX "New Year's Eve Dinner" is a special event for industry builders hosted by OKX to welcome the Lunar New Year.

Here is the full text of Star's speech (organized):

Year after year, we hope to continue this event. I look forward to continuing our journey together with influencers, KOLs, and partners in the next decade of the crypto and blockchain industry, growing and achieving together.

I would like to share some of my thoughts from the past year.

Seeing Trends in Industry Evolution

I have spoken on many occasions about how to view the crypto and blockchain industry. Since the birth of Bitcoin in 2008, this industry has gone through fifteen or sixteen years. Back then, we viewed Bitcoin more as "fun beans" or game currency. At that time, we did not truly understand what blockchain was, nor did we know how this industry would develop in the future, where regulation would go, or to what extent applications would evolve—no one knew.

As the industry evolved, Bitcoin could initially only do the simplest thing based on blockchain: issue tokens. Later, Ethereum emerged, claiming that blockchain technology could not only issue tokens but also support various "app-like" applications, positioning itself as the "operating system of blockchain."

In recent years, everyone has worked hard, including us at OKX, playing an important role in the Ethereum ecosystem. Today, Ethereum has indeed become the main platform for DApps, with many financial-grade applications built on it. At the same time, Ethereum is continuously evolving towards high performance, and many high-performance chains, such as Solana, have emerged in the market. We at OKX are also exploring our own path; although X Layer is still in its early stages and not yet mature, I believe it will achieve great success in the future.

As the industry develops to a certain stage, it has attracted the attention of more and more regulatory agencies. Initially, starting in 2017, regulatory agencies tended to suppress the entire industry, but after several years of development, I have noticed that some core trends are changing.

The first trend is that regulatory agencies are gradually recognizing that the statement "Bitcoin is equivalent to a money laundering tool" is not valid. Any financial system can be abused; the key is that it can be abused, so governance and management are needed. In blockchain activities, illegal behavior actually accounts for a very small part; it is more like a global, open, fair, and transparent financial system.

The second trend is that more and more young people—those born in the 90s, 95s, and 00s—have grown up hearing the story of Bitcoin. My child asked me what Bitcoin was many years ago. The understanding of "how to keep assets safer" is changing across generations. People of my age might say that keeping money in large banks or mature financial systems is safer, with more modern and user-friendly products. But when you talk to the younger generation, many of them feel that using tools like OKX Wallet or Coinbase Wallet to manage assets is safer and more convenient because it is transparent and verifiable on-chain, and the experience is getting better.

When it comes to products like stablecoins, people worry about potential rug pulls. Take USDG as an example; if it operates under the regulatory frameworks of the EU, Singapore, and possibly the US in the future, then logically, the possibility of such risks is very low. Looking further into custody issues: in a self-custody model, if you back up your private key, you can import your assets into any other wallet—you can take your assets at any time; we have no ability to take your assets. The custody part mainly involves the custody of the exchange system. OKX has weathered many storms over the years, whether in corporate governance structure, board governance, or our increasing number of compliance licenses globally. I believe we are becoming more and more formal and taking on more responsibilities.

In this context, the industry has experienced very intense collisions over the past four to five years. On one hand, some people question or even oppose cryptocurrencies; on the other hand, more and more people are starting to use Bitcoin or other crypto assets. In this process, crypto is moving towards a brand new era.

More importantly, crypto is aligning with "future trends." Starting from the United States, the trend of crypto entering the mainstream has extended worldwide: countries and regions such as the UK, EU, Japan, and Singapore are beginning to view crypto as an important direction to face, build, and incorporate into governance frameworks in the long term, even gradually rising to a "national-level" competition and layout.

Adhering to Long-Termism and Protecting the Reputation of the Crypto Industry

So, what I want to say to everyone is: adhere to long-termism.

What have you missed in the past, and how will you act in the future? The first thing to answer "what to do in the future" requires you to trust the industry, company, and institution, discard the noise, and return to the trend itself. Standing on the trends I just mentioned:

First, the development of technology has evolved from being able to only issue tokens at the beginning to being able to create DApps in the Ethereum era; and now, it can support various more complex, financialized, and large-scale applications like RWA (real-world assets on-chain).

Second, there is a change in population structure and generational concepts. More and more young people are beginning to believe that crypto is safer, more trustworthy, and has a brighter future than traditional methods in certain aspects.

The third trend is that governments and regulatory agencies around the world are beginning to systematically promote the development of this industry and related sectors.

Based on these three major trends, you must make a clear plan for your next five to ten years. This plan cannot be swayed by market emotions or various noises every day. What harms you is not the opportunity, but the noise. Life must have a basic foundation; I strongly urge everyone to establish their own long-term strategy. I truly believe that if you start to think seriously and take action now, you will thank your present self in many years to come.

You will find that everyone comes into this world with their own opportunities. The saying "I was born with talent" often means that it is not that you cannot do it, but that you are disturbed by too many irrelevant voices. You should choose your "vehicle" based on the three points I just mentioned. Once you have chosen a strategy, you must learn to "turn off"—block temptations, ignore short-term fluctuations, and even forget about this money for a period of time.

I hope to instill a belief in everyone: as a member of the blockchain industry, have faith in the industry itself.

Next, I want to talk about the second thing, which is based on the development stage of the entire industry. If you have Bitcoin, Ethereum, or even larger positions, you must cherish and protect this industry. Because today's crypto is completely different from the past. In recent years, our industry has been questioned, belittled, and even experienced extreme suppression. Besides the development stage of the industry itself, another important reason is that some so-called "industry leaders" have irresponsibly used frivolous and exaggerated language to describe this industry, seriously misleading the public.

When we use terms like "hundred times" and "all-in" to describe our industry every day, you need to seriously consider how the government and regulators will view you. By defining your career with "gambling everything" and "fantasies of getting rich," you are essentially harming this industry, belittling it, and also destroying the long-term value of the assets you hold. This is essentially "upturning the table and smashing your own bowl."

On the other side of the world, you see a completely different picture: stablecoin legislation is advancing, representatives of the crypto industry are walking into the White House to sign bills, and many crypto companies are listing on the NYSE and NASDAQ. In many countries and regions, crypto has long entered the mainstream, and industry practitioners are gradually standing on the same level as cutting-edge industries like AI and autonomous driving, gaining the respect they deserve.

I want to say that if you are only making money in this industry but not gaining respect, then such success is very fragile. Wealth, if lacking social recognition and institutional support, can easily be denied and liquidated. Respect is not something others bestow upon you; it is something you earn yourself, and the respect for this industry also requires each of us practitioners to maintain it together.

What we are engaged in is a technology-driven industry that uses technology to eliminate unfairness and allow more people to enjoy better financial technology services. Whether it is enterprises or you KOLs and influencers, you are essentially participants, builders, and beneficiaries of this industry. Since we are a community, we need to work together to maintain the reputation of the industry and earn true respect from the outside world.

Occasional jokes are fine, but if extreme and emotional terms are repeatedly used on the homepage to describe trading and the industry itself, you need to think: how will regulators view this? How will users and the world view this? Therefore, whether it is leading enterprises, industry organizations, or KOLs, each has its own responsibilities. Leading enterprises must have the responsibility of leading enterprises, KOLs must have the awareness of KOLs, and platforms also have their responsibilities. Since we are all participants in the industry's dividends, we should work together to maintain the industry's reputation to earn long-term and sustainable respect.

OKX's Three Major Business Directions for 2026

Next, I want to talk about some overall plans for OKX in 2026. These plans are also based on the several core judgments I have repeatedly mentioned: technological development, application development, and the evolution of regulatory and political environments.

First, in terms of trading and services, we hope to provide more diverse, friendly, and convenient exchange services within the global compliance regulatory framework. Whether in crypto, stocks, or other asset forms, we will continue to expand service boundaries under the premise of legality and compliance, giving users more choices.

Second, we aim to bring more assets on-chain. We already have xBTC, and in the future, there will be more "X" series products covering cross-chain assets, RWA, and even stocks and other real-world assets. We hope that through OKX's X Layer and Web3 wallet, they will become a unified carrier for multi-assets, serving as a gateway for users to enter the world of on-chain assets.

Third, there is OKX Pay payment service. This product, launched last year, received mixed reviews; we also acknowledge that it is still quite rough and will continue to be upgraded in the future. Currently, we have connected with local banking systems in several countries and regions, including Brazil, Europe, and Singapore. Even in some areas where we cannot temporarily provide card services, we hope to enable ordinary users to manage assets and make daily payment needs, such as transferring to friends or merchants, without complex operations through a more user-friendly Web3 wallet. Our goal is to provide entry-level services that allow ordinary users to easily manage digital assets.

Overall, in 2026, OKX will focus on these three directions: compliant trading services, multi-asset on-chain infrastructure, and payment and wallet experience.

In addition, there is a very important part, which is our partners, all of you present here. I have made a clear request to the company: OKX needs to get closer to our partners. We will continue to maintain a low profile, but being low-key does not mean being distant. Whether you are a KOL, a partner, a market maker, or a channel partner, we will show you more respect and explore more win-win ways together.

We will continue to optimize the KOL Program and Affiliate Program, while also building a more professional customer service and account manager system, providing one-on-one communication channels. Any suggestions you have for OKX—including criticisms or areas where you think competitors are doing better—are always welcome. For actionable issues, we will respond and improve within a clear timeframe through a more defined SLA mechanism; even when it involves long-term principles and core business logic, we will continue to listen and discuss better solutions with everyone.

Finally, I want to talk about X Layer and OKB. From a compliance perspective, OKX only operates with licenses in mainstream countries and regions, and we are subject to strict regulations with many institutional red lines that cannot be crossed; from the perspective of long-term business operations, we do not agree with the "killing the goose that lays the golden eggs" model. We are not inherently opposed to MEME. MEME is essentially a community-based token, and if the community is healthy and transparent, we welcome cooperation. However, we will not engage in projects that are highly centralized, clearly unfairly designed, and require the platform to "collaborate in creating hundredfold myths."

But it is clear that the construction of X Layer and OKB will never stop. X Layer is one of OKX's core infrastructures. In the past, we did not invest enough in the Web3 direction, but since last year, we have elevated it from the periphery to a core position. X Layer is the foundation of our long-term strategy; currently, its TVL may only be a few hundred million dollars, but our goal is 5 billion, or even 10 billion. In the future, whether for exchange users, payment users, or wallet users, there will be a large number of applications built on top of X Layer.

As for OKB, as an ecological token and gas token, it has a clear and long-term positioning. There is no question of OKX abandoning X Layer or OKB. With the development and growth of OKX itself, as well as the entire crypto and blockchain industry, I believe that both X Layer and OKB will continue to be core strategic components of OKX in the long term.

We will continue to invest in ecosystem and infrastructure development and will not stagnate. Regardless of whether we go public in the future, technology and long-term value will always be our core.

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