Author: Deep Tide TechFlow

If you could go back to 2018, what would you want to do the most?

Would it be to accurately target skyrocketing projects? To buy BTC at $3200? Or to persuade your past self not to sell 90 BTC to buy a house?

Although reality doesn't offer a rebirth narrative, throwing the question to five industry veterans yields unexpectedly intriguing answers.

2018 was a unique turning point: the ICO frenzy waned, the market plunged into a harsh winter, and no one knew how long this bear market would last;

However, it was also the year when Crypto started to enter institutional vision, DeFi was brewing, and more latecomers began to enter the crypto space, including Bitget, alongside major exchanges Binance, Huobi, and OKEx.

As cycles shifted, narratives flowed, and patterns changed, compared to the fantasy of "going back to the past, achieving financial freedom," a more meaningful topic might be: Have the once brave persistence, cautious attempts, and misunderstood decisions of the past received stronger validation from the industry today?

On the occasion of Bitget's eighth anniversary, we had a serious discussion with five professionals who have traversed different stages and experienced the ups and downs of the industry.

Five previously troubling questions, five interlaced answers across time and space. Please answer regarding 2018: Many issues they hope to reconsider.

Can an exchange born in a bear market survive until spring arrives?

Looking back at 2018, the one thing that the CEO most wanted to tell himself was: buy more and hold it.

During the bear market eight years ago, some watched from the sidelines, some left, and some began to genuinely study the industry, and the CEO, as an early Bitget seed user, belonged to the latter.

At that time, still a small-time player, he didn’t feel weighed down by 2018; rather, it was a sense of novelty that is hard to replicate today, because in his view: he had never seen an industry so filled with the constant emergence of new technologies and projects like crypto.

This continuous excitement enabled the CEO to catch the differentiation happening within the CEX field.

Huobi was the first CEX that the CEO encountered, but at that time, the homogeneous experience of large platforms felt boring, so he preferred to focus on newcomers, particularly the innovation in their products.

However, at that time, this attention leaned more towards experimentation, as no one knew back then: Whether an exchange born during a bear market could survive until spring came?

A turning point came later when Bitget launched copy trading. This made the CEO sit up in surprise:

At that time, CEXs were primarily focused on spot and perpetual contracts; few were innovating products. Bitget’s copy trading allowed newcomers to follow professional traders with one click, this proactive change was a watershed that began to make Bitget a sample worth observing seriously.

Of course, a single-point innovation was not enough to sustain long-term user engagement. After experiencing multiple cycles, the CEO formed a deeper judgment on the long-term development of exchanges:

If in 2018, "everything was still early," exchanges competed on product innovation; by 2026, "everything was in a race," exchanges would compete on user service.

This is also why the CEO still remains at Bitget today; he shared: Compared to other exchanges, you can clearly feel their dedication at Bitget. Product innovation can attract users for the first time, and service experience can persuade users to truly want to stay.

Looking back at the major reshuffle of 2018 from this perspective, the CEO also felt a "inevitably happening" sentiment: the bear market continuously eliminated speculators; true builders became more visible. And this seems to be a microcosm of exchanges:

Eight years itself is a testament to trust, many names have faded away during the cycle changes, while the remaining players consistently provide reasons to remember them.

When storing the first bit of money, did you have a solid feeling inside?

When asked what he would tell himself in 2018, Dylan’s answer didn’t change much compared to 2026: Stick to DYOR, manage risks, and manage emotions; as long as you still have bullets, you can survive in this industry.

Entering the crypto circle in 2017, Dylan was also a VIP user of several major CEXs, which gave him a broad perspective.

Regarding the current situation where major CEX platforms are competing with VIP systems, he pointed out directly: It boils down to trying to retain users. Unlike casual users who engage in simple trading, platforms see VIP users more as long-term financial partners.

For this "partner," Dylan’s first standard is security. After FTX, the Merkle tree, proof of reserves, transparency of funds, etc., have shifted from being add-ons to bottom lines. In addition, his emphasis is placed on the exchanges' attitude and ability to solve problems during unexpected events.

The second standard is the trading itself. Liquidity, depth, the variety of assets, transaction speed—these fundamentals directly determine whether large funds can operate efficiently.

Service experience is Dylan’s third standard. Whether it’s transaction speed, trading tools, or ease of operation, these details determine the comfort of daily use and test the underlying product design.

Beyond hard metrics, to differentiate further, Dylan pays attention to many soft skills. In this regard, he shared a direct observation: Some platforms tend to focus on top-tier major clients while providing rough services to lower-tier VIPs.

However, in Dylan’s view, refined operations can enhance the experience, and this is precisely the key to him becoming a Bitget VIP. During the process of mutual understanding, Dylan candidly mentioned:

His first deposit into Bitget was just a small attempt; as time passed, with fund storage security, product coverage meeting needs, and efficient asset management, along with the continuous improvement of functions like new listings, wealth management, dual currency investment, and U.S. stocks, trust was gradually built;

Most importantly, Bitget assigns a dedicated account manager to each VIP client, any issues encountered can receive quick and effective feedback, and whether there are activities or gifts, he will be notified promptly, this "feeling valued" experience is very touching.

Translating this trust into data, Dylan admitted: At my peak, I had nearly half of my funds in Bitget.

When discussing his expectations for the next steps of the VIP system, Dylan still focuses on this "dedication": Providing more customized services based on different user needs, for instance, for larger clients with more USDT, emphasizing the promotion of certain wealth management products. In his view, compared to fees discounts, these details make it easier for users to feel "the platform genuinely understands you."

In retrospect, was the decision of "just to take a look" right or wrong?

Jessie, coming from an institutional background, offers a rational answer to her 2018 self: Do not attempt to judge timing and bottoms.

Jessie’s adjustment of her stereotype about crypto occurred in 2019.

Prior to this, her understanding of the industry was straightforward: getting rich overnight. However, after becoming a strategy researcher for a quantitative institution, she soon realized this misunderstanding: Quantitative institutions prioritize strategy stability.

The institutional attitude towards crypto shifted in 2020. Jessie shared her judgment: After Grayscale and other institutions obtained regulatory licenses, they began to explore issuing ETFs, greatly widening the avenues for traditional investors to enter the crypto market.

Capital was willing to enter, but where should funds go? This is a question about infrastructure choices. Institutions are very different from retail investors; this is Jessie’s observation over many years of working in institutions:

Retail investors are easily attracted by trends and come and go quickly; but institutions are more rigorous in the early stages; once they successfully connect, they generally do not easily withdraw—they come slowly and leave slowly.

Jessie crystallized the institutional early-stage rigorous examination into three aspects:

1. Is the capital sufficiently secure?

2. Can returns and strategies be standardized and scaled?

3. Can the platform accommodate a sufficiently large capital volume?

Under this framework, Jessie admitted: CEXs are often the first choice for institutions.

However, based on this "priority," Jessie recalls that the first interaction between her team and Bitget originated from a "unknown outcome, just to take a look" strategy:

At that time, we had just completed a trading system upgrade and wanted to increase strategy capacity through expansion. Platforms ranked in the top 10 on CoinMarketCap were on our list.

But as funds began real testing, this "just to take a look" decision soon led Jessie to discover:

Aside from providing relatively attractive trading opportunities and yield potential, during volatile market conditions, Bitget’s system stability and fund security also performed excellently; and when encountering risk control events, Bitget could respond swiftly and provide fallback options.

Jessie used a very special word to describe this collaboration: refreshing, specifically meaning no pretentiousness, no procrastination, and no shifting responsibility.

Jessie shared a small story to illustrate this feeling: Currently, market attention is dominated by TradFi, RWA, and U.S. stocks. Almost all platforms advocate the concept of "one access to trade globally," and the abundance of assets can easily lead to back-end chaos; this is a common issue among platforms, but upon receiving feedback, Bitget completed adjustments in just two weeks.

Diving deeper into the product realization of "one access to trade globally," Jessie believes there is a fundamental difference between "surface construction" and "underlying realization":

Many platforms' "All in One" is focused on user-facing front-end construction, while institutions care more about back-end "One System," which concerns whether strategies can be executed in a standardized, reliable, and accurate manner. Bitget TradFi not only supports speed effectively but also standardizes the information format and fields pushed from back-end APIs, providing clear insights for institutions.

Of course, Jessie acknowledges that Bitget is not the "perfect answer" in her eyes yet; she pointed out: Achieving a higher degree of unification and standardization between RWA and Crypto on the back end will be an important direction for the next phase, and Bitget is continuously working on optimizing this aspect.

Did you ever hesitate to speak out for a not-so-large platform?

Link, who sold 2000 Ethereum and 90 BTC to buy a house in 2018, did not express regret when facing himself from 2018, but posed a reflective question: Why was I selling when others were rushing in? Was my understanding lagging behind?

Many people are familiar with Link from an article that garnered over a million views.

In this article, he used a Patek Philippe watch as an anchor to share his ten-year journey of achieving financial transition through crypto.

However, when it comes to influence, Link has always maintained a degree of caution regarding the KOL identity. He candidly expressed: I prefer to call myself a blogger.

As an early industry participant, he understands the controversies surrounding the KOL role. Rewinding time to the wild era of 2018: while there was a lack of industry regulation and a credit system, there was a stark bare connection between traffic and wealth. Under these circumstances, a group of people indeed stigmatized KOLs.

But there are also those who believe "influence is not for harvesting, but for responsibility," clearly defining the essence of the difference between KOLs and bloggers in Link's eyes: KOLs deal in traffic, while bloggers create valuable content.

Thus, when collaborations approached, Link's first instinct was always: Is it worth betting my reputation on this? Over time, a set of simple criteria took shape:

• Seriousness: Has the product been diligently refined and can withstand scrutiny?
• Brand ethos: Does the platform embody positive values?
• Staying relevant: Does the project cling to past accolades?

Under this framework, when Bitget first sent merchandise and extended an interview invitation, even though Bitget's scale was not that large at the time, and it was still addressing some public relations issues, Link didn’t hesitate much, his reasoning was straightforward:

Some may think Bitget likes to stir the pot, but no one can deny its efforts in being "seen"—this diligence is reflected both in marketing and product development, such as when the industry shifted to U.S. stocks, Bitget tirelessly implemented numerous functions, which is quite remarkable;

Additionally, I was acutely aware that my content had no financial ties with Bitget, and I have also criticized Bitget at times; when it performed well, I praised it; when it did not, I offered suggestions, which is normal; I was simply sharing what I deemed worth sharing.

Beyond this honesty, Link also shared his additional observation:

Chinese voices are very present in the CEX space, perhaps the only domain in the global financial industry where Chinese hold dominance, every exchange has its own advantages and significance.

In conclusion of the discussion, regarding the current KOL ecosystem, Link shared his core judgment: Compared to 2018, it is now easier to become a KOL, but harder to be a blogger. He added: There are many methods and avenues to chase traffic, but the market rhythm is accelerating, and the threshold for consistently outputting valuable content is continuously rising.

After all, while traffic may inflate, responsibility will not shrink.

Can Bitget really transform from a "small exchange" to one of the "top three in the Chinese-speaking world"?

Looking back over his past eight years in crypto, Xie Jiayin's most crucial message to his former self would be: If you feel lonely now, it’s because you are standing at the entrance of the future.

Today, Xie Jiayin has become one of the most recognized executives in the crypto industry.

But when he first entered crypto eight years ago, Xie Jiayin’s first reaction was loneliness: Scrolling through his WeChat friend list, being from a major internet company, he couldn’t find like-minded old friends.

He also considered returning to the big internet firm. In 2019, during a deep bear market, he interviewed at a company, but they told him: You are great, but you have the blockchain stigma. At that moment, he realized that going back was not as easy as he had imagined.

Yet, the gentle yet resilient nature within may define Xie Jiayin’s true character; he expressed: The traditional industry led us to find our position on a map drawn many times, whereas blockchain offers us the chance to participate in the drawing of this map.

On January 2, 2024, after multiple rounds of observation, communication, and negotiation, Xie Jiayin encountered his most significant career turning point: joining Bitget as the Chinese-speaking head.

At that time, he was ambitious: "I have ambition, and Bitget has ambition," often mentioning "top three in the Chinese-speaking world," and became a planner behind realizing this vision.

Creating the warmest exchange is Xie Jiayin’s first "strategy."

This slogan, which sounds abstract, has been broken down by Xie Jiayin into several service principles: all users are VIPs from the moment they arrive; for any encountered problems, there is someone to respond, someone to resolve, someone to take responsibility, and someone to provide fallback support; over 20 angels are active in over 1000 WeChat groups, building a feedback communication bridge between the brand and users.

The judgment is straightforward: The product determines whether users will come, the service determines whether users are willing to stay, and warmth determines whether they are willing to recommend you to friends;

The results are significant, Bitget’s current service capabilities have almost become a model for other platforms to learn from.

The second "strategy" focuses more on the UEX strategy aspect.

In September 2025, Bitget launched the UEX panoramic exchange strategic vision, with a clear goal: to support one-stop trading of globally quality assets including crypto, U.S. stocks, gold, ETFs, and forex through a single account.

At first, derisive remarks emerged: Some said it was neglecting its core business, others labeled it a new concept. To this, Xie Jiayin expressed understanding:

Being mocked early on was expected; but strategies are not for explaining; rather, they are for fulfilling.

According to official data, rToken’s cumulative trading volume reached 1.2 million transactions in August 2026, with AUM surpassing $200 million; at the same time, Bitget TradFi contracts accumulated over 250 million transactions in August, with monthly trading volumes maintaining above $100 billion for two consecutive months; meanwhile, currently, the trading volume of non-crypto assets on Bitget accounts for 40% of the total volume, with 52% of users holding portfolios that include both cryptocurrency and U.S. stocks.

Furthermore, following the UEX announcement, nearly all trading platforms began to follow suit in areas related to U.S. stocks and TradFi.

The achievements are evident, but when asked if he could "hit back at the mockers," Xie Jiayin rationally analyzed:

The market does not buy into a concept just because it’s beautifully articulated, but will stay because your product is truly useful.

And in response to that initial "top three in the Chinese-speaking world" goal, his answer has somewhat relaxed compared to two years ago:

The top three is just a number; compared to where I appear on a ranking, I want to genuinely enter users' hearts and become their default choice.

Finally, when discussing the next key steps, Xie Jiayin used the "Archimedes Plan" as an example to share more core initiatives regarding institutional services:

Institutions, as one of the key points that drive trading, the "Archimedes Plan" aims to provide $300 million in dedicated funding support for quantitative trading firms, asset management institutions, and market maker institutions, with $100 million aimed at specifically supporting emerging and growing quantitative institutions adopting market-neutral strategies, and $200 million intended to provide interest-free funds to institutions with mature strategies and substantial trading scales. This plan is expected to support over 50 projects in the next six months.

While continuously improving institutional service capabilities and actively inviting more market makers or quantitative teams to join, Bitget will also continue to refine its products, functionalities, and experiences, aiming to provide a better trading encounter.

The so-called "top three" might never have been a destination.

The next eight years: In 2034, what do you most want to verify?

As the discussion comes to a close, this time-travel conversation starting from 2018 and meeting in 2026 has also reached the starting point for the next eight years.

When asked "Looking forward to the next eight years from now, what do you most want to verify," the five individuals’ focuses differ:

The CEO seeks to internally explore and verify the results of his efforts; Dylan is more macro-focused, curious if crypto can detach from the Fed’s influence in the future; Jessie wants to understand the trajectory of the entire industry by observing Bitcoin’s market share; Link’s interests are more diversified, wanting to know about Bitcoin’s new narrative, the landing of stablecoins, and whether as crypto moves towards compliance, opportunities for retail investors are diminishing?

The areas where consensus has been formed may perhaps be answers extracted from eight years of experience, while areas still in divergence may become the real battleground for the next eight years.

For Xie Jiayin, who has just celebrated Bitget's eighth anniversary, the questions he wants to verify are even more direct and specific:

After eight years, with the ongoing in-depth promotion of the UEX strategy, as global assets converge at a unified entry point, we look forward to the genuine arrival of a fairer and more inclusive financial era.

Of course, what the answers will be eight years from now is still unknown, just as when he first entered crypto eight years ago, he wasn't sure if he would stay to delve deeper; when he joined Bitget in 2024, he also did not know if the "top three in the Chinese-speaking world" could truly be realized.

But uncertainty is one of the most alluring aspects of this industry.

Over the past eight years, facing a series of questions such as how to survive a bear market, how to retain users, and how to open boundaries, Bitget, like those holding a "let's give it a try" mentality, repeatedly validated the answers within cycles.

And now, carrying unvalidated questions, Xie Jiayin looks forward to meeting more users at the pinnacle eight years later.

2018 was so, and 2026 remains so.

Please answer Crypto, the answers are still being written.