OKX Founder: 'Bitcoin is only used for money laundering' is nonsense OKX founder Star Xu bluntly stated in a speech that the long-standing accusation that Bitcoin is 'only used for money laundering' is pure nonsense. He compared the money laundering ratios of traditional banks and cryptocurrencies, pointing out that illegal activities account for only a tiny fraction on the blockchain. Star emphasized that any industry can have instances of misuse, but the key lies in management, not outright denial. As global regulatory understanding improves, Bitcoin is being redefined—it’s not a hotbed for illegal activities but is instead driving the creation of a more globalized, open, fair, and transparent financial system.